Amneal Pharmaceuticals Inc. has announced that its subsidiary, Amneal Pharmaceuticals LLC, is planning a refinancing of its existing credit agreement. This will include a private offering of $750 million in senior secured notes due in 2032. The company is also seeking to borrow $1.8 billion through new seven-year term B loans under a new term loan facility. The proceeds from these transactions are intended to refinance existing term B loans, repay part of the outstanding amounts under its asset-based lending facility, and cover related fees and expenses. The notes will be guaranteed on a senior secured basis by the same subsidiaries that will guarantee the new term loan facility.
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