REYKJAVIK, Iceland and MORRISTOWN, N.J., March 10, 2025 (GLOBE NEWSWIRE) — Alvogen Pharma US, Inc. (“Alvogen” or the “Company”), a privately owned US-based pharmaceutical company, has completed a comprehensive refinancing of its capital structure. Alvogen raised a $553 million first lien term loan due 2028 (the “First Lien Term Loan”) and a $116 million second lien term loan due 2029 (the “Second Lien Term Loan”) to refinance its existing secured term loan due 2025. Overall, the new term loans reduce debt by approximately $60 million and represent approximately 1.4 times Alvogen’s 2024 EBITDA.
In addition to the First Lien and Second Lien Term Loans, Alvogen also announced it had successfully amended and extended its existing $240 million ABL revolving credit facility.
Alvogen expects in the coming days to see S&P raise the Company’s credit rating given the improved liquidity, strong operational performance, …
