Affymetrix plans $190 million facility for eBioscience purchase

By Sara Rosenberg

New York, Nov. 30 - Affymetrix Inc. has received a commitment for a $190 million five-year senior secured credit facility, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Proceeds will be used to help fund the acquisition of eBioscience Holding Co. Inc. for about $330 million in cash, repay eBioscience's existing credit facilities and for general corporate purposes.

General Electric Capital Corp., Silicon Valley Bank and CIT Bank are the lenders on the deal.

The facility consists of a $170 million term loan and a $20 million revolver.

Closing is expected this quarter, subject to customary regulatory approvals and conditions.

Affymetrix is a Santa Clara, Calif.-based provider of technology used by pharmaceutical, diagnostic and biotechnology companies, as well as leading academic, government and nonprofit research institutes. eBioscience is a San Diego, Calif.-based company with a position in flow cytometry and immunoassay reagents for immunology and oncology research and diagnostics.

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