- International biotech firm Alvotech (NASDAQ:ALVO) announced a strategic refinancing transaction, the financing will allow Alvotech (ALVO) to enhance value of capital, tackle upcoming debt maturities in 2025 and improve its monetary flexibility by including incremental money to the steadiness sheet.
- With the transaction, Alvotech (ALVO) obtains financing from skilled healthcare traders who share the corporate’s confidence in its anticipated near-term product launches and pipeline progress.
- Alvotech (ALVO) has entered into an settlement with the Lenders for a senior secured first lien time period mortgage facility of as much as $965M, in two tranches.
- The primary tranche, a primary lien $900M time period mortgage bears an rate of interest of SOFR plus 6.5% every year and a $65M first lien, second out time period mortgage drawable at discretion.
- The corporate intends to make use of the proceeds to refinance varied excellent debt obligations, together with these maturing in 2025.