debt
confidence high
sentiment neutral
materiality 0.50
Incyte enters $500M unsecured three-year revolving credit facility
INCYTE CORP
- Facility of $500M with J.P. Morgan as admin agent; matures in three years.
- Interest at base rate plus 0.125%-0.875% or Eurodollar rate plus 1.125%-1.875% based on leverage.
- Commitment fee on undrawn amount from 0.150% to 0.225% per annum.
- Financial covenant: maximum consolidated leverage ratio of 3.50 to 1.00.
- Incyte Holdings guarantees; additional material domestic subsidiaries may become guarantors.