Alkermes plc (ALKS) Announces Pricing of New Term Loans
9/20/2012 9:50:08 AM
DUBLIN--(BUSINESS WIRE)--Alkermes plc (NASDAQ: ALKS) today announced the pricing of new term loans to be used in the refinancing of its existing senior secured bank debt. Syndication has completed for the new senior secured bank debt, comprising First Lien Term Loan facilities consisting of a $300 million, seven-year Term Loan bearing interest at LIBOR plus 3.50% and a $75 million, four-year Term Loan bearing interest at LIBOR plus 3.00%. Under each of these term loans, LIBOR is subject to an interest rate floor of 1.00%. The company expects the refinancing to close on Sept. 25, 2012, subject to customary closing conditions.
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