Valneva Extends Interest-Only Payment Term For Its Loan Facility With Deerfield and OrbiMed
Portfolio Pulse from Benzinga Newsdesk
Valneva has negotiated an extension of the interest-only payment term for its loan facility with Deerfield and OrbiMed. The first $100 million tranche's reimbursements will now begin in January 2026, an 18-month delay from the original start date of July 2024, while its maturity date in the first quarter of 2027 remains unchanged. The terms for the second $100 million tranche are not altered.
March 18, 2024 | 6:43 am
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Valneva has successfully extended the interest-only payment period for its loan, delaying the start of repayments for the first $100 million tranche to January 2026.
This extension provides Valneva with financial flexibility by deferring the start of repayments, which could improve its short-term liquidity and potentially reduce immediate financial stress. This news is likely to be viewed positively by investors as it indicates successful negotiation with lenders and a strategic approach to managing debt obligations.
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