Indivior PLC on Tuesday said that its subsidiary, RBP Global Holdings Ltd, has completed the refinancing of a secured term loan.
Indivior is a Chesterfield, US-based pharmaceutical company, which develops medicines to treat substance abuse disorders, overdose and serious mental illnesses.
According to the firm, RBP Global has signed an agreement with Piper Sandler Finance LLC and certain purchasers for $400 million of senior secured notes. This is comprised of $350 million term notes and $50 million revolver in the form of variable notes.
Proceeds from the new term notes will be used to fully repay the existing term loan, and to pay related transaction fees and expenses. Excess proceeds from the notes, along with the variable notes, will be used for working capital and other general corporate purposes, Indivior said.
Shares in Indivior were trading 0.9% lower at 693.44 pence each in London on Tuesday morning.
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