Royalty Pharma ups revolving credit facility to $1.8B, extends majority to Dec 2028

Royalty Pharma plc

Borrowing capacity increased from $1.5B to $1.8B via Amendment No. 3.
$1.69B of commitments extended to December 22, 2028; $110M remains at Oct 31, 2027.
Facility remains unsecured; interest based on SOFR/base rate plus applicable margin.
Covenants include max leverage ratio of 4.00x (4.50x post material acquisition) and min coverage of 2.50x.
Proceeds for general corporate purposes; amendment effective December 22, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Royalty Pharma plc amended "Third Amendment" with Bank of America, N.A., as Administrative Agent and the other lenders thereto valued at increases the borrowing capacity under the Credit Agreement from $1.5 billion to $1.8 billion (effective 2023-12-22).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as Administrative Agent and the other lenders thereto
Value: increases the borrowing capacity under the Credit Agreement from $1.5 billion to $1.8 billion
Effective: 2023-12-22

Exact text from the filing

On December 22, 2023, Royalty Pharma plc (the “Company”) and Royalty Pharma Holdings Ltd., a non-wholly owned consolidated subsidiary of the Company, entered into Amendment No. 3 (the “Third Amendment”) to the Amended and Restated Revolving Credit Agreement, dated as of September 15, 2021, as amended by Amendment No. 1 to Credit Agreement, dated as of October 31, 2022 and as further amended by Amendment No. 2 to Credit Agreement, dated as of May 16, 2023, with Bank of America, N.A., as Administrative Agent and the other lenders thereto (as so amended, the “Credit Agreement”).

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Source: SEC EDGAR

accession 0001193125-23-304012

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