As previously reported, on March 31, 2022, United Therapeutics Corporation (the "Company") entered into a Credit Agreement (the "Credit Agreement") with certain of its subsidiaries party thereto, as guarantors (the "Guarantors"), the lenders referred to therein, and Wells Fargo Bank, National Association, as administrative agent and as a swingline lender (Filing, 8-K, United Therapeutics, MAR 31, 2023, View Source [SID1234629673]). The Credit Agreement provides for: (i) an unsecured revolving credit facility of up to $1.2 billion; and (ii) a second unsecured revolving credit facility of up to $800 million (which facilities may, subject to obtaining commitments from existing or new lenders for such increase and subject to other conditions, be increased by up to $500 million in the aggregate). The facilities mature five years after the closing date of the Credit Agreement, subject to an ability of the lenders thereunder, or certain of the lenders thereunder, to elect to extend the maturity date of their commitments by one year following a request for such extension by the Company in accordance with the terms of the Credit Agreement, up to a maximum of two such extensions.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Pursuant to Section 2.7 of the Credit Agreement, the maturity of the commitments and loans of each lender under the Credit Agreement has been extended by one year to March 31, 2028. The maturity extension became effective as of March 31, 2023.
The foregoing summary is qualified by reference to the copy of the Credit Agreement attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on April 1, 2022, the full text of which is incorporated herein by reference.