Theratechnologies draws $20 million loan to repay 5.75% convertibles

By Marisa Wong

Los Angeles, June 22 – Theratechnologies Inc. announced it drew down on its second tranche of $20 million under its credit agreement dated July 20, 2022 with funds and accounts for which Marathon Asset Management, LP acts as investment manager.

Proceeds of this second tranche, about $19.3 million, will be used to help redeem all of the issued and outstanding $27.5 million 5.75% convertible senior notes due June 30, 2023. The remaining balance will be funded from the company’s cash on hand.

Theratechnologies is a biopharmaceutical company based in Montreal.

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