StockMarketWire.com - Life sciences debt investor BioPharma Credit said it had entered into a senior secured term loan agreement with Collegium Pharmaceutical.
Collegium Pharmaceutical, a publicly traded biopharmaceutical company, was focused on developing and commercializing new medicines for responsible pain management with a current market capitalization of about US$680m.
Under the terms of the transaction, the company would invest US$165m in a single drawing and BioPharma-V would invest US$35m in parallel, with the company acting as collateral agent, Biopharma said.
The loan would mature in January 2024 and bear interest at 3-month LIBOR plus 7.50% per annum subject to a 2.00% floor along with a one-time additional consideration of 2.50% of the loan amount payable upon funding, it added.
At 10:00am: [LON:BPCR] Biopharma Credit Plc share price was 0p at 1p
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