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.

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