Collegium Pharmaceutical (COLL) announced the closing of its inaugural syndicated credit facility. The new aggregate $980M credit facility will mature in 2030 and consists of a $580M initial Term Loan, $300M Delayed Draw Term Loan, and $100M revolving credit facility. The initial Term Loan was used to repay approximately $581M of principal representing the entire remaining balance of the Company’s previous $646M term loan secured from funds managed by Pharmakon Advisors, LP. The Delayed Draw Term Loan and revolving credit facility, both of which were undrawn at the time of closing, are expected to be used for general corporate purposes, including to partially fund future business development opportunities.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COLL:
- Dyne Therapeutics appoints Vikram Karnani to board of directors
- Collegium Pharmaceutical initiated with an Overweight at Barclays
- Collegium Pharmaceutical price target raised to $48 from $45 at Truist
- Collegium Pharmaceuticals Reports Record Growth and Optimistic Outlook
- Collegium Pharmaceutical price target raised to $46 from $44 at H.C. Wainwright