IN BRIEF: Biopharma Credit increases loan commitment to Valneva
BioPharma Credit PLC - London-based closed-ended investment company focused on life sciences industry - Provides a senior secured loan to Valneva Austria GmbH, a subsidiary of Valneva SE. Initial tranche is expected to be funded in the coming weeks, with BioPharma investing USD30 million and BioPharma Credit Investments V (Master) LP investing an additional USD185 million in parallel, and BioPharma acting as collateral agent. "Further tranches of up to USD285 million for potential business development are subject to mutual agreement by the parties with loan allocations to be determined at such time," BioPharma adds. The loan to Valneva will mature in October 2030 and bear an interest of 9.00% per year. Read More