Loan & DebtAug 12, 2026, 09:32 AM
Alkermes Reduces Interest Rates on $1.5B Term Loan Facilities
AI Summary
Alkermes plc has amended its Credit Agreement, resulting in a reduction of interest rate spreads on its senior secured term loan A (TLA) and term loan B (TLB) facilities. The TLA Facility's spread was cut by 0.75%, and the TLB Facility's by 0.50%. This amendment also refinances the existing $773.06 million TLB Facility, maintaining the principal amount while lowering borrowing costs for the company.
Key Highlights
- Alkermes plc entered into Amendment No. 1 to its Credit Agreement on August 12, 2026.
- The senior secured term loan A (TLA) Facility has an outstanding principal of $745,312,500.
- The senior secured term loan B (TLB) Facility has an outstanding principal of $773,062,500.
- The interest rate spread for the TLA Facility was reduced by 0.75%.
- The interest rate spread for the TLB Facility was reduced by 0.50%.
- The TLA Facility matures on February 12, 2031, and the TLB Facility matures on August 12, 2031.
- The TLB Facility is being refinanced with 2026 Refinancing Tranche B Term Loans.
Price Impact
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