Bovie Medical Corp. has a new loan agreement with PNC Bank that could reflect lenders’ tendency to be more hands-on and watchful as health care evolves.
Bovie’s borrowing limit was reduced from $6 million to $4 million and the interest rate was increased, according to an April 18 filing with the U.S. Securities and Exchange Commission. The company also is required to get the bank’s consent before paying dividends on or repurchasing any outstanding shares of its capital stock.
In the banking…
Bovie Medical Corp. has a new loan agreement with PNC Bank that could reflect lenders’ tendency to be more hands-on and watchful as health care evolves.
Bovie’s borrowing limit was reduced from $6 million to $4 million and the interest rate was increased, according to an April 18 filing with the U.S. Securities and Exchange Commission. The company also is required to get the bank’s consent before paying dividends on or repurchasing any outstanding shares of its capital stock.
In the banking…