---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-041375"
form_type: "8-K"
ticker: "UTHR"
cik: "0001082554"
company_name: "UNITED THERAPEUTICS Corp"
filed_at: "2022-04-01T23:59:59+00:00"
generated_at: "2026-06-26T10:13:12.744998+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# United Therapeutics enters $2B credit agreement, draws $800M to refinance existing debt

## Summary
- New $2B unsecured revolving credit facility with $1.2B Tranche A and $800M Tranche B; can be increased by up to $500M.
- Borrowed $800M at closing to repay outstanding indebtedness under 2018 credit agreement; no penalties for early termination.
- Maturity five years from March 31, 2022, with two possible one-year extensions at borrower's request.
- Interest at Adjusted Term SOFR or base rate plus margin tied to leverage ratio; covenant limits total debt/EBITDA to 3.00x (3.50x after acquisitions).
- Financial covenants also require interest coverage ratio >= 3.00x; customary events of default and change of control clause.

## SEC filing metadata
- accession: 0001104659-22-041375
- form_type: 8-K
- ticker: UTHR
- cik: 0001082554
- company_name: UNITED THERAPEUTICS Corp
- filed_at: 2022-04-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1082554/000110465922041375/0001104659-22-041375-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1082554/000110465922041375/tm2211000d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-041375
- JSON: https://secwatch.observer/filing/0001104659-22-041375.json
- Plain text: https://secwatch.observer/filing/0001104659-22-041375.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.