Arrowhead Pharmaceuticals prepays $400 million credit facility at $68 million discount
ARWR•Arrowhead Pharmaceuticals prepaid its existing $400 million Sixth Street facility at a $68 million discount to the contractual minimum repayment amount and replaced it with a new $400 million senior secured term loan. The new loan carries a 5.5% margin over three-month SOFR, with principal due November 2, 2031, and no scheduled amortization before maturity.
1. New loan terms
The new facility lowers the margin to 5.5% from 15% and eliminates required prepayments from transaction proceeds and commercial revenue. All principal is due November 2, 2031, with no scheduled amortization payments before maturity.
