debt
confidence high
sentiment neutral
materiality 0.65
Amneal refinances $500M credit facility with new $350M revolving facility maturing 2027
Amneal Pharmaceuticals, Inc.
- New $350M senior secured revolving credit facility with Truist Bank as administrative agent; matures June 2, 2027.
- Interest rates: ABR + 0.25% to 0.50% or SOFR + 1.25% to 1.50% per annum, depending on excess availability.
- Includes $25M letter of credit subfacility and $35M swingline; incremental increase option up to $150M.
- Prior $500M facility (due May 2023) terminated with no outstanding amounts and no termination penalties incurred.
- Proceeds may be used for capex, acquisitions, working capital, and general purposes under customary negative covenants.