Indivior PLC Indivior Completes Replacement of Term Loans (7511D)
July 01 2021 - 2:00AM
UK Regulatory
TIDMINDV
RNS Number : 7511D
Indivior PLC
01 July 2021
Indivior Announces Repricing and Maturity Extension of Term Loan
Facilities
Slough, UK and Richmond, VA, July 1, 2021 - Indivior PLC (LON:
INDV) today announced that it has entered into an amendment to
provide replacement term loan facilities in an aggregate principal
amount of $250 million. These term loan facilities replace all of
the Group's previous term loans under the previous credit agreement
due December 18, 2022. As such, the amount of Indivior's total
borrowings and its net leverage is substantially unaffected by this
transaction.
The new term loan interest coupon is LIBOR (0.75% minimum) plus
5.25% and was issued at a discount of 2%. The new term loan
eliminates the previous leverage covenant and introduces a minimum
liquidity covenant (greater of 50% of any outstanding balance or
$100 million). The new term loan has a maturity date of June 30,
2026.
These facilities replace and refinance the Group's previous
borrowing facilities. Specifically, Indivior PLC's wholly-owned
subsidiaries Indivior Finance S.à r.l. , Indivior Finance (2014)
LLC and RBP Global Holdings Limited have entered into a third
amendment to its existing credit agreement, originally entered into
on December 19, 2014, which third amendment was arranged by Morgan
Stanley Senior Funding, Inc. with various lenders to provide the
replacement term loan facilities.
About Indivior
Indivior is a global pharmaceutical company working to help
change patients' lives by developing medicines to treat addiction
and serious mental illnesses. Our vision is that all patients
around the world will have access to evidence-based treatment for
the chronic conditions and co-occurring disorders of addiction.
Indivior is dedicated to transforming addiction from a global human
crisis to a recognized and treated chronic disease. Building on its
global portfolio of opioid dependence treatments, Indivior has a
pipeline of product candidates designed to both expand on its
heritage in this category and potentially address other chronic
conditions and cooccurring disorders of addiction, including
alcohol use disorder. Headquartered in the United States in
Richmond, VA, Indivior employs more than 700 individuals globally
and its portfolio of products is available in over 40 countries
worldwide. Visit www.indivior.com to learn more. Connect with
Indivior on LinkedIn by visiting www.linkedin.com/company/indivior
.
Forward-Looking Statements
This announcement contains certain statements that are
forward-looking. By their nature, forward-looking statements
involve risks and uncertainties as they relate to events or
circumstances that may or may not occur in the future. Actual
results may differ materially from those expressed or implied in
such statements because they relate to future events.
Forward-looking statements include, among other things, statements
regarding the Indivior Group's financial guidance for 2021 and its
medium- and long-term growth outlook, its operational goals, its
product development pipeline and statements regarding ongoing
litigation and other statements containing the words "subject to",
"believe", "anticipate", "plan", "expect", "intend", "estimate",
"project", "may", "will", "should", "would", "could", "can", the
negatives thereof, variations thereon and similar expressions.
Various factors may cause differences between Indivior's
expectations and actual results, including, among others (including
those described in the risk factors described in the most recent
Indivior PLC Annual Report and in subsequent releases): factors
affecting sales of Indivior Group's products and financial
position; the outcome of research and development activities;
decisions by regulatory authorities regarding the Indivior Group's
drug applications or authorizations; the speed with which
regulatory authorizations, pricing approvals and product launches
may be achieved, if at all; the outcome of post-approval clinical
trials; competitive developments; difficulties or delays in
manufacturing and in the supply chain; disruptions in or failure of
information technology systems; the impact of existing and future
legislation and regulatory provisions on product exclusivity;
trends toward managed care and healthcare cost containment;
legislation or regulatory action affecting pharmaceutical product
pricing, reimbursement or access; challenges in the commercial
execution; claims and concerns that may arise regarding the safety
or efficacy of the Indivior Group's products and product
candidates; risks related to legal proceedings, including
compliance with the U.S. Department of Justice Resolution and
Settlement Agreements, noncompliance with which could result in
potential exclusion from participating in U.S. Federal health care
programs; the ongoing investigative and antitrust litigation
matters; the opioid national multi-district litigation and
securities class action litigation; the Indivior Group's ability to
protect its patents and other intellectual property; the outcome of
patent infringement litigation relating to Indivior Group's
products, including the ongoing ANDA lawsuits; changes in
governmental laws and regulations; issues related to the
outsourcing of certain operational and staff functions to third
parties; risks related to the evolving COVID-19 pandemic and the
potential impact of COVID-19 on the Indivior Group's operations and
financial condition, which cannot be predicted with confidence;
uncertainties related to general economic, political, business,
industry, regulatory and market conditions; and the impact of
acquisitions, divestitures, restructurings, internal
reorganizations, product recalls and withdrawals and other unusual
items.
Consequently, forward-looking statements speak only as of the
date that they are made and should be regarded solely as our
current plans, estimates and beliefs. You should not place undue
reliance on forward-looking statements. We cannot guarantee future
results, events, levels of activity, performance or achievements.
Except as required by law, we do not undertake and specifically
decline any obligation to update, republish or revise
forward-looking statements to reflect future events or
circumstances or to reflect the occurrences of unanticipated
events.
Contact:
Jason Thompson
Vice President, Investor Relations
+1 804-402-7123
-ends-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCDGGDLDSXDGBG
(END) Dow Jones Newswires
July 01, 2021 02:00 ET (06:00 GMT)
Indivior (LSE:INDV)
Historical Stock Chart
From Aug 2024 to Sep 2024
Indivior (LSE:INDV)
Historical Stock Chart
From Sep 2023 to Sep 2024