Bruker BioSciences to borrow up to $40 million from Citizens

By Elaine Rigoli

Tampa, Fla., July 7 - Bruker BioSciences Corp. issued a demand promissory note to Citizens Bank of Massachusetts for up to $40 million of borrowings.

Interest is at Libor plus 100 basis points or a Libor advantage rate plus 100 basis points.

On July 5, the company borrowed $20 million under the note at the Libor advantage rate plus 100 basis points to complete the acquisition of Bruker Optics, Inc.

The company's obligations under the note are secured by the pledge of 100% of the capital stock of each of the company's wholly owned domestic subsidiaries, each of which also pledged a portion of the stock of certain of their foreign subsidiaries.

Bruker is a life sciences company based in Billerica, Mass.

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