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Innoviva closes $250mm Term B loan

Executive Summary

Just two weeks after raising $192.5mm through a convertible debt sale, Innoviva Inc. (respiratory therapies) closed a $250mm Term B loan that matures in August 2022, bears interest at a rate equal to LIBOR plus 4.5%, and requires a 10% minimum annual principal repayment. The company will use the proceeds to refinance its 9.0% fixed rate term notes due 2029.
Deal Industry
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement

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