secwatch.observer — SEC 8-K summary
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Issuer:     Pacira BioSciences, Inc. (PCRX)
CIK:        0001396814
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001396814-23-000017
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/0001396814-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396814/000139681423000017/pcrx-20230331.htm
  HTML page:      https://secwatch.observer/filing/0001396814-23-000017

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