Sarepta enters $600M senior secured revolving credit facility with JPMorgan as admin agent

Sarepta Therapeutics, Inc.

Five-year $600M revolving credit facility closed Feb 13, 2025; variable interest at Adjusted SOFR + 1.125%-1.75% spread based on leverage.
Financial covenants: max secured net leverage ratio 3.5:1.0 (4.0:1.0 holiday for acquisitions); min interest coverage ratio 2.5:1.0.
Facility matures Feb 13, 2030; proceeds for general corporate purposes; secured by substantially all assets of obligors.
Commitment fee on unused portion ranges from 0.20% to 0.35% per annum based on total gross leverage ratio.
Lead arrangers include JPMorgan, Barclays, Citizens, Goldman Sachs, Morgan Stanley, and RBC as co-syndication agents.

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