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Accuray Announces New $120 Million Credit Facility Refinancing Significantly Reduces Interest Rate and Extends Maturity with Increased Operational Flexibility News provided by Share this article Share this article SUNNYVALE, Calif., May 6, 2021 /PRNewswire/  Accuray Incorporated (NASDAQ: ARAY) today announced it has entered into a new five-year $80 million term loan and $40 million revolving credit facility with Silicon Valley Bank and a syndicate of banks (the New Credit Facility ). The closing and funding of the New Credit Facility is subject to customary conditions precedent that are anticipated to be satisfied after the date hereof. The proceeds from the New Credit Facility, plus available cash on hand, are anticipated to be used to repay all outstanding borrowings under the Company s existing term loan and revolving credit facility with MidCap Financial (the Refinanced Credit Facilities ). The new revolving credit facility, $25 million of which is anticipated to be dr

United statesBeth kaplanShig hamamatsuJoe diazExchange commissionSilicon valley bankBank united statesAccuray incorporatedComerica bankNew credit facilityMidcap financialRefinanced credit facilitiesSenior vice presidentChief financialRefinanced creditValley bank