Pharmaceutical firm Indivior said on Thursday that it had entered into an amendment to reprice and extend the maturity of $250.0m worth of term loan facilities.
Indivior said the term loan facilities replaced all of its previous term loans under a credit agreement due 18 December 2022 and introduces a minimum liquidity covenant, greater of 50% of any outstanding balance or $100.0m, with a maturity date of 30 June 2026.
The FTSE 250-listed group stated the new term loan interest coupon was at the London Interbank Offered Rate, a minimum of 0.75%, plus 5.25% and was issued at a discount of 2%.
Indivior also highlighted that the amount of its total borrowings, as well its net leverage, was “substantially unaffected” by the transaction.
As of 1030 BST, Indivior shares were up 2.72% at 158.80p.
