Harvard Bioscience secures $65M in refinancing
Image | Courtesy of Google Maps
Harvard Bioscience's Holliston headquarters on October Hill Road
Holliston biotechnology firm Harvard Bioscience has secured a $65-million credit facility officials say will allow the company to reduce borrowing costs and increase flexibility.
The refinancing was led by Providence-based Citizens and will allow Harvard to retire existing debt and pay related fees and expenses, according to a release from Citizens.
The move comes as Harvard Bioscience continues to correct course after a rocky start to the year where the company lost $4.5 million in the first quarter and announced in February it would lay off more than 10% of its 550-employee workforce and close down facilities, including its manufacturing operations in Connecticut.
The company’s third quarter report compared favorably to the previous year and was part of continued improvements by the company.
WBJ Web Partners
Most Recent
Most Recent
0 Comments