Alvotech Secures $965M Refinancing Deal to Boost Financial Flexibility and Support Product Launches
Portfolio Pulse from Benzinga Newsdesk
Alvotech (NASDAQ:ALVO) has secured a $965 million refinancing deal led by GoldenTree Asset Management to improve its financial flexibility and support upcoming product launches. The deal includes a $900 million term loan and an optional $65 million term loan, both maturing in June 2029.
June 07, 2024 | 8:03 am
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Alvotech has secured a $965 million refinancing deal to improve its financial flexibility and support upcoming product launches. The deal includes a $900 million term loan and an optional $65 million term loan, both maturing in June 2029.
The refinancing deal will improve Alvotech's cost of capital, address upcoming debt maturities, and provide additional cash for product launches. This is likely to positively impact the company's stock price in the short term.
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