Biogen secures $1.5B loan to fund Reata buyout, with three-year repayment schedule baked in
Biogen has lined up a $1.5 billion term loan to fund its $7.3 billion acquisition of Reata Pharmaceuticals.
The company had made clear its intentions to finance the acquisition with both cash and debt in its August announcement. The loan, for which JPMorgan Chase Bank acted as the administrative agent, sets up two different tranches so that Biogen may repay half of the loan within a year and the other half within three years, according to an SEC filing.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.