Arrowhead Pharmaceuticals Refinances Existing Credit Facility, Lowering Borrowing Costs and Extending Maturity
Business Wire•04/11/2026•07:30 ET
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Key Highlights
- ➤$400 million existing facility prepaid at a $68 million discount
- ➤New $400 million term loan priced at 3-month SOFR plus 5.50%
- ➤Retired facility’s 15% annual interest rate replaced with lower borrowing costs
- ➤New facility eliminates required transaction-proceeds sweeps and scheduled amortization
- ➤Debt maturity extended to November 2, 2031
Expert Statements
Daniel Apel, Chief Financial Officer of Arrowhead Pharmaceuticals
“This transaction is an important step in aligning our capital structure with the company Arrowhead has become. By reducing the amount required to retire our existing facility and lowering our ongoing borrowing costs, we are improving the economics of our financing for shareholders.”
Daniel Apel, Chief Financial Officer of Arrowhead Pharmaceuticals
“As we build the REDEMPLO(®) business and advance our pipeline, we are securing financing terms that more closely reflect our profile as a commercial-stage biopharmaceutical company. Sixth Street’s continued support reflects its confidence in our business and the opportunities ahead.”
Jeff Pootoolal, Partner at Sixth Street
“Arrowhead has made significant progress in translating its RNAi platform into a commercial business with substantial growth opportunities”
Michael Reslinski, Managing Director at Sixth Street
“We are pleased to continue our relationship through a new financing structure that recognizes that progress and supports the company’s next phase of growth.”
Arrowhead Pharmaceuticals Refinances Existing Credit Facility, Lowering Borrowing Costs and Extending Maturity
- Existing $400 million facility prepaid at a $68 million discount to the contractual minimum repayment amount
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