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Capital One Arranges Senior Secured Credit Facility for Canadian Biotechnology Company
August 19, 2019
Source: Capital One
Capital One announced today that it acted as a joint lead arranger for a senior secured credit facility for STEMCELL Technologies, a Canada-based biotechnology and life science company. The financing consists of a revolving line of credit and a senior term loan.
“Thanks to its array of innovative products, STEMCELL Technologies has grown dramatically over the last decade and become a worldwide leader in life science research,” said David Anderson, Managing Director, Capital One Healthcare. “We are excited to support their efforts to accelerate the growth of their business.”
Headquartered in Vancouver, STEMCELL Technologies is Canada’s largest biotechnology company, developing specialty cell culture media, cell isolation systems, and accessory products for life science research. It will use the proceeds from the loan to construct a new advanced biologics manufacturing facility, support working capital and expansion needs, and retire existing debt.
“This transaction marks a milestone in our development as a company,” said Jay Dent, STEMCELL Technologies’ CFO. “It will enable us to keep pace with the growing demand for innovative stem cell products, enabling researchers around the world to pursue treatments and cures for some of our most deadly diseases.”
Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers. Additional information can be found at capital.one/healthcare.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $254.5 billion in deposits and $373.6 billion in total assets as of June 30, 2019. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
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