---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-304012"
form_type: "8-K"
ticker: "RPRX"
cik: "0001802768"
company_name: "Royalty Pharma plc"
filed_at: "2023-12-27T23:59:59+00:00"
generated_at: "2026-06-07T06:58:56.063183+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-304012
- form_type: 8-K
- ticker: RPRX
- cik: 0001802768
- company_name: Royalty Pharma plc
- filed_at: 2023-12-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1802768/000119312523304012/0001193125-23-304012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1802768/000119312523304012/d656258d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-304012
- JSON: https://secwatch.observer/filing/0001193125-23-304012.json
- Plain text: https://secwatch.observer/filing/0001193125-23-304012.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1802768/000119312523304012/0001193125-23-304012-index.htm

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