Collegium secures $339M through term loan agreement, public debt raise to finance Nucynta deal
Executive Summary
Collegium Pharmaceutical Inc. received a total of $339.4M in committed debt financing to support in part its concurrent $375M purchase of US rights to oral opioid analgesic Nucynta (tapentadol) from its 2017 partner Assertio Therapeutics Inc. It secured a $200M term loan facility from BioPharma Credit PLC. The four-year loan will bear interest at a rate based upon LIBOR, plus 7.5% per annum. The company also publicly sold $143.75M ($139.4M net), including the overallotment, in 2.625% convertible senior notes due 2026.
Deal Industry
- Biotechnology
- Pharmaceuticals
-
Pharmaceuticals
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Drug Delivery
- Controlled Release
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Drug Delivery
Deal Status
- Final
Deal Type
-
Financing
- Convertible Debt
- FOPO
- Nonconvertible Debt
Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
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