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Biofrontera enters into finance contract with European InvestmentbankFinance Agreement • May 19th, 2017
Leverkusen, Germany, May 19, 2017 – Biofrontera AG (FSE: B8F), the specialist for the treatment of sun-induced skin cancer, and the European Investment Bank (EIB) have entered into an agreement today according to which the EIB will provide a loan of up to EUR 20 Million to the Biofrontera-Group. The loan is secured by a guarantee of the European Fund for Strategic Investments (EFSI). Up to EUR 10 Million will be available for disbursement from signature. Further EUR 10 Million may be drawn in two tranches within the next 24 months based on prior achievement of operational milestones. There is no obligation to call these tranches and no obligation to pay any commitment interest. Each tranche must be repaid five years after drawdown.
