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Alnylam Pharmaceuticals, Inc. Message Board

  • experiencedmentor experiencedmentor Jun 23, 2006 7:46 PM Flag

    10+% Interest Rate Sux!

    Why so high an interest rate?

    That's just stupid.

    23-Jun-2006

    Creation of a Direct Financial Obligation or an Obligation under an



    Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
    Off-Balance Sheet Arrangement of a Registrant.
    As previously filed on Form 8-K, on March 31, 2006, Alnylam Pharmaceuticals, Inc. ("Alnylam") entered into a Master Security Agreement ("Security Agreement") with Oxford Finance Corporation ("Oxford"), pursuant to which Alnylam may borrow money from Oxford from time to time, and Alnylam granted to Oxford a security interest in all property financed by Oxford, as set forth in the Security Agreement. Alnylam is using the Security Agreement to partially fund its planned expansion into additional office and laboratory space in its Cambridge, MA facility, as well as the purchase of additional computer and laboratory equipment to accommodate the expansion.
    On June 20, 2006, Alnylam borrowed an aggregate of approximately $2.3 million from Oxford pursuant to the Security Agreement. Of such amount, approximately $2.1 million bears interest at a fixed rate of 10.37% and is required to be repaid in 48 monthly installments of principal and interest beginning on June 20, 2006. The remainder of such amount, approximately $0.2 million, bears interest at a fixed rate of 10.35% and is required to be repaid in 36 monthly installments of principal and interest beginning on June 20, 2006.

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ALNY
53.86-0.75(-1.37%)Apr 17 4:00 PMEDT

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