Mesoblast final $30 million made available by Oaktree Capital

By Wendy Van Sickle

Columbus, Ohio, Dec. 22 – Mesoblast Ltd. said that the final $30 million of its $90 million five-year facility provided by funds managed by Oaktree Capital Management, LP has been made available for an extended period of time, subject to achieving certain milestones by Sept. 30, 2023, according to a news release.

Mesoblast drew the first tranche of $60 million at closing in November 2021.

According to the Prospect News archive, the company initially had until Dec. 31, 2022 to draw the final tranche and meet the related milestones.

The facility has a three-year interest-only period, at a rate of 9.75% per annum; after that, 40% of the principal amortizes over two years with a final payment due November 2026.

New York-based Mesoblast develops allogeneic (off-the-shelf) cellular medicines for the treatment of severe and life-threatening inflammatory conditions.

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