LCI - Lannett raises $350M to repay outstanding existing Term B Loans

Lannett Company (LCI) has priced $350M of 7.75% senior secured notes due April 15, 2026 in a private placement.Closing date is April 22. The notes will pay interest only semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2021, at a rate of 7.75% per annum in cash. Net proceeds together with other anticipated borrowings under the separately disclosed junior lien credit facility due in July 2026 and cash on hand will be used to repay outstanding existing Term B Loans.

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Lannett raises $350M to repay outstanding existing Term B Loans