Xeris Biopharma refinances senior secured term loan agreement with Hayfin

On March 6 Xeris announced the refinancing of its existing senior secured term loan agreement with Hayfin Capital Management to provide the Company with a facility size of $200M at close, lowering its overall cost of capital and providing additional working capital to invest in the Company’s business plan. An additional $15.2 M will be available to settle, if needed, the outstanding senior convertible notes that mature mid-2025. In conjunction with the new loan agreement, Xeris paid the balance of the $15M debt facility to Hayfin, plus associated interest and fees.