Opko Health amends note purchase deal, issues USD 125 million additional senior secured notes
OPK•Guarantees and covenants under the amended deal
OPKO Biologics and EirGen guaranteed the obligations.
The amendment adds customary negative covenants, financial covenants and default triggers, including insolvency and cross-defaults.
Interest support tied to EirGen receipts and mazdutide royalties
Quarterly interest is tied to EirGen profit-share receipts from Pfizer; shortfalls are covered first by mazdutide royalties from China sales.
The security package includes EirGen royalty interests. Mazdutide payment support is capped at USD 187.5 million, with any excess applied to principal.
Opko Health amends note purchase agreement and issues additional notes
Opko Health amended a July 17, 2024 note purchase agreement on Aug. 13, 2026, issuing USD 125 million of additional senior secured notes.
The notes mature July 17, 2044. Interest is set at 3-month SOFR with a 4% floor, then 7.5% per year.
