Jazz Pharma Refinances $1.895 Billion Term Loan, Extending Maturity to 2033

Jazz Pharmaceuticals has amended its credit agreement to refinance its outstanding $1.895 billion Tranche B-2 Dollar Term Loans. This transaction establishes a new Tranche B-3 Dollar Term Loan facility with more favorable terms, including a lower interest rate and a significantly extended maturity date.

Key Details

• Principal Amount: The new Tranche B-3 Dollar Term Loans total $1.895 billion, replacing the previous Tranche B-2 facility of the same amount.
• Maturity Extension: The loan's maturity date was extended by five years, from May 5, 2028, to May 5, 2033.
• Interest Rate Reduction: The applicable margin for Term SOFR borrowings was reduced by 50 basis points (0.50%) to 1.75%.
• Amortization: The new term loans will amortize in quarterly installments equal to 0.25% of the initial principal amount, with the remaining balance due at maturity.