Sarepta Therapeutics, Inc. (SRPT): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sarepta Therapeutics, Inc. incurred revolving credit of $600 million with JPMorgan Chase Bank, N.A. at Adjusted SOFR plus a margin of 1.125% to 1.75% per annum maturing five years from the Closing Date.

Instrument: revolving credit
Principal: $600 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: Adjusted SOFR plus a margin of 1.125% to 1.75% per annum
Maturity: five years from the Closing Date
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a five-year, $600 million senior secured revolving credit facility

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Source: SEC EDGAR

accession 0001193125-25-026683

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