Coherus Biosciences (CHRS) has shared an announcement.
Coherus BioSciences, Inc. secured a $38.7 million senior secured term loan on May 8, 2024, to repay previous debts, with terms including an 8.00% interest rate plus SOFR and a sliding scale prepayment fee. The loan, maturing in 2029, is backed by the company’s assets and includes a cash maintenance covenant. Additionally, the company sold revenue rights for two products to Coduet Royalty Holdings, LLC for $37.5 million, with the option to repurchase these rights, signifying strategic financial restructuring to strengthen its financial position.
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