Basilea Announces Closing of CHF 75 Million Senior Secured Loan Agreement with Athyrium
Basel/Allschwil, Switzerland, September 21, 2022
Basilea Pharmaceutica Ltd (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, today announced the closing of the CHF 75 million senior secured loan agreement previously announced with funds managed by Athyrium Capital Management, LP (“Athyria”).
Adesh Kaul, Chief Financial Officer of Basilea, said, “We are pleased to announce the conclusion of this loan agreement with Athyrium. The senior secured loan of CHF 75 million will be used for the non-dilutive repayment of our convertible bonds, which mature in December 2022 for an outstanding nominal amount of approximately CHF 117 million.
Basilea expects to pay the balance of the outstanding 2022 convertible bonds with available cash and intends to repay the CHF 75 million senior secured loan within two years from expected cash flows from its operations. growing business.
The senior secured loan has a term of two years and repayment will begin in the first quarter of 2023 on a quarterly basis. Interest payments, excluding fees, are expected to average approximately CHF 1.25 million per quarter over the term.
Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative medicines to meet the needs of patients with serious bacterial and fungal infections. We successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. Additionally, we have several preclinical anti-infective actives in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.
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