5th Sep 2024 13:49
BioPharma Credit PLC - London-based investment company, focused on the life sciences sector - Notes Collegium Pharmaceutical Inc's announcement that it has closed its acquisition of Ironshore Therapeutics Inc. BioPharma announced in late July the second amendment and restatement of its loan agreement with Collegium, BioPharma Credit Investments V (Master) LP, and BPCR Ltd Partnership, with the BioPharma group providing for a USD645.8 million senior secured term loan to fund the acquisition. The loan comprised a USD320.8 million initial term loan, being tranche A, and a USD325.0 million senior delayed draw one, being tranche B. Company funded its allocated 40% of tranche B, totalling USD130 million, in connection with the successful closing of the acquisition. Also has received its allocation of the additional consideration of 2.25% of the tranche B funding, totalling USD2.9 million. Read More
