June 3, 2020 / 6:04 AM / a month ago

BRIEF-Novacyt: to settle debts with Harbert European Growth Capital and Vatel

June 3 (Reuters) - Novacyt SA:

* NOVACYT S.A.: EARLY SETTLEMENT OF TERM LOAN AND CONVERTIBLE BOND FACILITY REMOVES LONG TERM DEBT

* WILL SETTLE ALL OUTSTANDING DEBT OBLIGATIONS WITH HARBERT EUROPEAN GROWTH CAPITAL (“HEGC”) AND VATEL CAPITAL SAS (“VATEL”).

* UNDER ARRANGEMENTS, NOVACYT WILL CLEAR ITS DEBT OBLIGATIONS WITH HEGC AND VATEL BEFORE END OF JUNE 2020

* IN DOING SO, IT WILL SETTLE A TOTAL OF EUR 7.0M OF PRINCIPAL DEBT PROVIDED BY TWO LENDERS.

* AS OF 2 JUNE 2020, PRIOR TO PAYMENT TO HEGC, GROUP HAD A NET CASH BALANCE OF EUR 25M (CASH AS AT 31 DECEMBER 2019 OF EUR 1.8M). Further company coverage: (Reporting by Sudip Kar-Gupta)

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