Rhythm Pharmaceuticals secures up to $750 million term loan led by KKR’s HealthCare Royalty with Blackstone
RYTM•Rhythm Pharmaceuticals entered a five-year term-loan facility of up to $750 million, including $500 million committed and an additional $250 million subject to mutual agreement. The company expects an initial $250 million draw at closing on November 6, 2026.
1. Loan terms and uses
The five-year facility is led by KKR’s HealthCare Royalty in partnership with Blackstone. Another $250 million of committed capital is available through June 30, 2028, while a further $250 million requires mutual agreement. Borrowings bear interest at SOFR plus 4.60%, with no scheduled principal amortization before maturity. Rhythm said proceeds will support its amended LG Chem licensing agreement, global commercialization efforts and research and development programs.
