BioAmber Refinances $25M Loan

BioAmber Inc.

, an industrial biotechnology company producing sustainable chemicals, today announced it has repaid the $25 million loan that it secured in June 2013 and secured a new debt facility with funds managed by Tennenbaum Capital Partners, LLC. The new $25 million term loan has a three-year maturity and an interest-only period that defers principal repayment until at least September 30, 2015. The Company has improved terms with Tennenbaum and the debt facility is expected to free up an additional $12 million of cash through to the end of 2015.