ImmuCell Corporation, a prominent player in the animal health sector, has announced the successful refinancing of a portion of its bank debt. The company secured a new loan from Maine Community Bank amounting to $2,327,119 at a fixed interest rate of 6.5% per annum. This new loan was utilized to pay off existing loans with higher interest rates, specifically a loan with a 7% interest rate from MCB and another with an 8% rate from the Finance Authority of Maine. The repayment of these loans, which included significant balloon principal payments due in 2026, positions ImmuCell more favorably for future financial planning. The new loan comes with a five-year amortization schedule, extending through the third quarter of 2030, enhancing the company's financial flexibility.
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