Pacira BioSciences closes on $375 million five-year term loan

By Mary-Katherine Stinson

Lexington, Ky., Dec. 9 – Pacira BioSciences Inc. closed on a $375 million senior secured term loan B facility on Tuesday, according to a company release.

The company stated the five-year term loan B facility would provide additional operational and financial flexibility.

The term loan matures Dec. 7, 2026.

Interest is based on SOFR plus 700 basis points.

JPMorgan Chase Bank, NA was the bookrunner and lead arranger.

Silver Point Finance, LLC was the syndication agent on the deal.

The proceeds are expected to be used for general corporate purposes, to replenish funds used for the purchase price and transaction cost of the acquisition of Flexion Therapeutics, Inc. and related transactions and to repay the remaining principal on the company’s 2.375% convertible senior notes due 2022.

Pacira BioSciences is a Parsippany, N.J.-based pharmaceutical company that is a leading provider of non-opioid pain management medication.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.