Viatris Inc. has entered into an amended and restated term loan credit agreement, establishing a ¥40 billion senior unsecured term loan facility. The proceeds will be used primarily to refinance and repay the company's previous ¥40 billion term loan facility, which was dated July 1, 2021, as well as for general corporate purposes.
Key Details
- Facility Amount: ¥40,000,000,000 senior unsecured term loan.
- Terms & Maturity: The loan, dated July 1, 2026, matures in three years. It will initially bear interest at the TIBO Rate plus 1.10% per annum, with the margin subject to change based on the company's credit ratings.
- Financial Covenant: The agreement requires Viatris to maintain a leverage ratio no greater than 3.75 to 1.00 as of the last day of each fiscal quarter.