Loan & DebtJul 1, 2026, 04:01 AM
Alvotech Secures $75M Additional Term Loan Facility
AI Summary
Alvotech announced an amendment to its credit agreement, securing an additional $75 million term loan facility from GoldenTree Asset Management and other lenders. This financing, which matures on December 31, 2027, and bears a 12.50% interest rate, follows a recent $165 million equity raise. The combined capital of $240 million will strengthen the company's financial position and support its growth strategy, including advancing its biosimilar pipeline and expanding global commercial operations.
Key Highlights
- Alvotech secured an additional $75 million term loan facility.
- The new facility matures on December 31, 2027.
- It carries an interest rate of 12.50%, payable monthly in cash.
- This follows a recent $165 million equity capital raise.
- Total new capital secured, including equity and undrawn loan, is $240 million.
- Funds will support the R&D pipeline and global product launches.
Price Impact
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