Amneal Pharmaceuticals entered into Amendment No. 3 to its Term Loan Credit Agreement to reprice its term loans and reduce borrowing costs. Consenting lenders converted $2.039 billion of existing term loans on a cashless basis, and the company added a $45.2 million term loan to prepay non-consenting lenders at par. The amendment lowers interest rate margins by 50 basis points to 1.50% (base rate) and 2.50% (SOFR), with maturity unchanged at Aug 1, 2032, and permits repricing without a premium after Feb 3, 2027. Amneal estimates about $12 million in annualized cash interest savings.
Agreement details:
- Agreement type: Amendment No. 3 to Term Loan Credit Agreement (repricing of term loans)
- Counterparty: JPMorgan Chase Bank, as administrative agent, and other lenders
- Signed / Effective: Aug 03 2026 / same
- Duration / Termination: Through Aug 01 2032
- Reason: Lower interest costs and enhance flexibility
Original SEC Filing:
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