---
schema_version: "secwatch.filing_event.v1"
accession: "0001396814-23-000017"
form_type: "8-K"
ticker: "PCRX"
cik: "0001396814"
company_name: "Pacira BioSciences, Inc."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T06:52:12.988603+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pacira refinances Term Loan B with $150M Term Loan A at 400 bps lower rate, cutting 2023 interest expense by $15M

## Summary
- Repaid $287.5M Term Loan B outstanding using $150M new Term Loan A and cash on hand.
- New Term Loan A matures March 2028; interest rate is SOFR + 3.00%-3.75%, 400 bps lower than prior facility.
- Expects Q1 2023 cash and investments of approximately $180M after repayment.
- Full-year 2023 interest expense reduction of at least $15M from lower rate.
- CFO reaffirms 5-year plan for adjusted EBITDA margins exceeding 50% and improved leverage ratio.

## SEC filing metadata
- accession: 0001396814-23-000017
- form_type: 8-K
- ticker: PCRX
- cik: 0001396814
- company_name: Pacira BioSciences, Inc.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/0001396814-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/pcrx-20230331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001396814-23-000017
- JSON: https://secwatch.observer/filing/0001396814-23-000017.json
- Plain text: https://secwatch.observer/filing/0001396814-23-000017.txt

## Key facts
- Debt Financings
  Pacira BioSciences, Inc. incurred credit facility of $150.0 million with JPMorgan Chase Bank, N.A., as administrative agent and certain lenders at Alternate Base Rate plus a spread ranging from 2.00% to 2.75% maturing March 31, 2028.
  - Instrument: credit facility
  - Principal: $150.0 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and certain lenders
  - Rate: Alternate Base Rate plus a spread ranging from 2.00% to 2.75%
  - Maturity: March 31, 2028
  - Event: incurrence
  source text: The Credit Agreement provides for a single-advance term loan A facility in the principal amount of $150.0 million, which is secured by substantially all of the Company's and any subsidiary guarantor's assets and is scheduled to mature on March 31, 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/0001396814-23-000017-index.htm
- Material Agreements
  Pacira BioSciences, Inc. terminated Existing Credit Agreement (effective 2023-03-31).
  - Action: termination
  - Agreement: credit facility
  - Effective: 2023-03-31
  source text: On March 31, 2023, the Company used the $150.0 million of borrowings, together with cash on hand, to repay the indebtedness outstanding under the Existing Credit Agreement and terminated the Existing Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/0001396814-23-000017-index.htm
- Material Agreements
  Pacira BioSciences, Inc. entered into Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and certain lenders valued at $150.0 million (effective 2023-03-31).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and certain lenders
  - Value: $150.0 million
  - Effective: 2023-03-31
  source text: On March 31, 2023, Pacira BioSciences, Inc. (the “Company”) entered into a credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent and certain lenders, to refinance the indebtedness outstanding under the Company’s credit agreement, dated as of December 7, 2021, relating to the Company’s term loan B facility (the “Existing Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/0001396814-23-000017-index.htm

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