LONDON BROKER RATINGS: Jefferies cuts BioPharma Credit to 'hold'
7th Feb 2024 08:51
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning: Read More
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning: Read More
BioPharma Credit PLC - London-based closed-ended investment company - Its investment manager Pharmakon Advisors LP notes Coherus Biosciences Inc on Monday saying it plans to make a partial prepayment of USD175.0 million of the outstanding USD250.0 million balance under its existing loan agreement with BioPharma Credit, BPCR Limited Partnership and Biopharma Credit Investments V (Master) LP. BioPharma Credit says its portion of the prepayment would be USD87.5 million. Coherus anticipates making such partial prepayment in the second quarter of 2024, BioPharma says. Read More
(Alliance News) - BioPharma Credit PLC on Tuesday noted that investee LumiraDx Ltd appointed administrators last week and has since agreed an acquisition deal with Roche Holding AG. Read More
BioPharma Credit PLC - UK-based closed-ended investment company - Notes on Tuesday a filing by LumiraDx Ltd on Friday last week, disclosing a seventeenth amendment to a loan agreement between the two. A subsidiary of LumiraDx, the borrower in this deal, entered into the agreement with Biopharma Credit, BPCR Limited Partnership and BioPharma Credit Investments V LP in March 2021. In the latest amendment, the minimum liquidity covenant will be waived until the end of the waiver period, provided that the consolidated liquidity of LumiraDx and its subsidiaries must be at least USD5.0 million. The amendment also states that the minimum net sales covenant for the twelve months ended September 30 will be tested at the end of the waiver period. The waiver period itself has been extended to December 28. The amendment removes undrawn tranche term loans in an aggregate amount of USD4.0 million from the agreement. Read More
BioPharma Credit PLC - specialist life sciences debt investment trust - Funds first USD37.5 million tranche of secured senior loan, announced in April, of up to two tranches worth up to USD62.5 million for ImmunoGen Inc. AbbVie Inc on Thursday announced its acquisition of ImmunoGen for total equity value of USD10.1 billion. AbbVie and ImmunoGen expect the purchase to close in the middle of 2024. Under the senior secured loan agreement, BioPharma expects a make-whole payment and a 3% prepayment premium. For example, "if the transaction were to close on [June 30, 2024], the company would be expected to receive approximately USD14.5 million in prepayment and make-whole fees." Read More
BioPharma Credit PLC - specialist life sciences debt investment trust - Minimum liquidity covenant in loan agreement between LumiraDX Investment Ltd and BioPharma Credit Investments V Master LP and BPCR Ltd Partnership is waived until October 23. This is providing that the consolidated liquidity of LumiraDX and its subsidiaries during the waiver period must be at least USD5 million, tested on a weekly basis. Further, the minimum net sales covenant for the trailing 12-month period ended September 30 will be tested on October 23. The loan agreement was dated March 2021 with BioPharma Credit as collateral agent and BioPharma Credit Investments and BPCR as lenders, with the latest amendment marking the 13th instance of altering the agreement. Read More
(Alliance News) - BioPharma Credit PLC on Wednesday reported soft growth in its net asset value per share for the first half of 2023. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - BioPharma Credit PLC on Tuesday said Lumira DX Investment Ltd announced an amendment on Monday to its loan agreement with BioPharma Credit, BioPharma Credit Investments V (Master) LP and BPCR Ltd Partnership. Read More
(Alliance News) - The following London-listed shares received analyst recommendations Monday morning: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - BioPharma Credit PLC on Friday said its investee company LumiraDx reported a drop in revenue in the first quarter as it continues its restructure. Read More
(Alliance News) - BioPharma Credit PLC on Thursday announced that it has entered into a definitive senior secured loan agreement with Reata Pharmaceuticals Inc, a Plano, Texas-based pharmaceutical company. Read More
BioPharma Credit PLC - specialist life sciences debt investment trust - Enters into a senior secured loan deal with biopharmaceutical company BioCryst Pharmaceuticals Inc through its fully owned subsidiary, together with BioPharma Credit Investments V LP. Says will invest up to USD180.0 million and BioPharma-V to invest up to an additional USD270.0 million in parallel, with BioPharma Credit acting as collateral agent. Read More
(Alliance News) - BioPharma Credit PLC on Tuesday said it has agreed a senior secured loan deal to invest up to USD125.0 million in ImmunoGen Inc, including investment from BioPharma Credit Investment V (Master) LP. Read More
(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More