Sarepta Therapeutics Announces Inaugural $600 Million Senior Secured Revolving Credit Facility
Sarepta Therapeutics (NASDAQ:SRPT) has secured a $600 million senior secured revolving credit facility through a bank syndicate led by JPMorgan Chase Bank. This non-dilutive financing arrangement enhances the company's financial flexibility while complementing its existing strong balance sheet.
The credit facility, which received oversubscribed demand, demonstrates lenders' confidence in Sarepta's future cash and EBITDA growth trajectory. The syndicate includes major financial institutions such as Barclays Bank, Citizens Bank, Goldman Sachs USA, Morgan Stanley, Royal Bank of Canada, Fifth Third Bank, UBS AG, and Bank of America.
The facility is designed to provide contingent liquidity as the company executes its strategic plan toward achieving its Sarepta 2030 objectives.
Sarepta Therapeutics (NASDAQ:SRPT) ha ottenuto un prestito garantito revolving senior di 600 milioni di dollari attraverso un sindacato bancario guidato da JPMorgan Chase Bank. Questo accordo di finanziamento non diluitivo migliora la flessibilità finanziaria dell'azienda, complementando il suo già solido bilancio.
La linea di credito, che ha ricevuto una domanda sovra-sottoscritta, dimostra la fiducia dei finanziatori nella futura crescita dei flussi di cassa e dell'EBITDA di Sarepta. Il sindacato include importanti istituzioni finanziarie come Barclays Bank, Citizens Bank, Goldman Sachs USA, Morgan Stanley, Royal Bank of Canada, Fifth Third Bank, UBS AG e Bank of America.
La struttura è progettata per fornire liquidità contingente mentre l'azienda attua il suo piano strategico per raggiungere gli obiettivi Sarepta 2030.
Sarepta Therapeutics (NASDAQ:SRPT) ha obtenido una línea de crédito rotativa garantizada senior de 600 millones de dólares a través de un sindicato bancario liderado por JPMorgan Chase Bank. Este acuerdo de financiamiento no dilutivo mejora la flexibilidad financiera de la empresa, complementando su sólido balance general existente.
La línea de crédito, que recibió una demanda sobredimensionada, demuestra la confianza de los prestamistas en la futura trayectoria de crecimiento de flujo de efectivo y EBITDA de Sarepta. El sindicato incluye importantes instituciones financieras como Barclays Bank, Citizens Bank, Goldman Sachs USA, Morgan Stanley, Royal Bank of Canada, Fifth Third Bank, UBS AG y Bank of America.
La instalación está diseñada para proporcionar liquidez contingente mientras la empresa ejecuta su plan estratégico hacia el logro de los objetivos Sarepta 2030.
사레프타 테라퓨틱스 (NASDAQ:SRPT)는 JPMorgan Chase Bank가 이끄는 은행 신디케이트를 통해 6억 달러 규모의 선순위 담보 회전 신용 시설을 확보했습니다. 이 비희석 금융 계약은 회사의 재무 유연성을 향상시키며 기존의 강력한 대차대조표를 보완합니다.
과도한 수요를 받은 이 신용 시설은 사레프타의 미래 현금 및 EBITDA 성장 궤도에 대한 대출자의 신뢰를 보여줍니다. 신디케이트에는 Barclays Bank, Citizens Bank, Goldman Sachs USA, Morgan Stanley, Royal Bank of Canada, Fifth Third Bank, UBS AG 및 Bank of America와 같은 주요 금융 기관이 포함되어 있습니다.
이 시설은 회사가 Sarepta 2030 목표를 달성하기 위한 전략적 계획을 실행하는 동안 비상 유동성을 제공하도록 설계되었습니다.
Sarepta Therapeutics (NASDAQ:SRPT) a obtenu une facilité de crédit revolving senior de 600 millions de dollars par l'intermédiaire d'un syndicat bancaire dirigé par JPMorgan Chase Bank. Cet accord de financement non dilutif améliore la flexibilité financière de l'entreprise tout en complétant son bilan déjà solide.
La facilité de crédit, qui a reçu une demande sursouscrite, démontre la confiance des prêteurs dans la future trajectoire de croissance des flux de trésorerie et de l'EBITDA de Sarepta. Le syndicat comprend des institutions financières majeures telles que Barclays Bank, Citizens Bank, Goldman Sachs USA, Morgan Stanley, Royal Bank of Canada, Fifth Third Bank, UBS AG et Bank of America.
La facilité est conçue pour fournir une liquidité conditionnelle alors que l'entreprise met en œuvre son plan stratégique pour atteindre les objectifs de Sarepta 2030.
Sarepta Therapeutics (NASDAQ:SRPT) hat eine 600 Millionen Dollar umfassende, gesicherte revolvierende Kreditfazilität über ein von JPMorgan Chase Bank geleitetes Bankenkonsortium gesichert. Diese nicht-dilutive Finanzierungsvereinbarung erhöht die finanzielle Flexibilität des Unternehmens und ergänzt die bereits starke Bilanz.
Die Kreditfazilität, die eine überzeichnete Nachfrage erhielt, zeigt das Vertrauen der Kreditgeber in die zukünftige Wachstumsdynamik von Cashflow und EBITDA von Sarepta. Das Konsortium umfasst bedeutende Finanzinstitute wie Barclays Bank, Citizens Bank, Goldman Sachs USA, Morgan Stanley, Royal Bank of Canada, Fifth Third Bank, UBS AG und Bank of America.
Die Fazilität ist darauf ausgelegt, bedingte Liquidität bereitzustellen, während das Unternehmen seinen strategischen Plan zur Erreichung der Sarepta 2030-Ziele umsetzt.
- Secured $600 million revolving credit facility
- Non-dilutive financing preserves shareholder value
- Oversubscribed demand indicates strong lender confidence
- Strengthens financial flexibility and liquidity position
- None.
Insights
The establishment of a
The revolving nature of this facility provides several strategic advantages:
- Immediate access to capital without the need for multiple approval processes
- Flexibility to draw and repay funds as needed, optimizing interest expenses
- Protection against potential market volatility or tightening credit conditions
The non-dilutive aspect is particularly important as it allows Sarepta to maintain its current equity structure while securing substantial financing capacity. This approach is especially valuable given the company's market capitalization of approximately
The timing of this facility is strategic, secured during a period of strong operational performance, which typically results in more favorable terms and conditions. The participation of elite financial institutions, led by JPMorgan Chase, adds credibility and suggests rigorous due diligence of Sarepta's financial projections and business model.
This facility positions Sarepta advantageously for executing its long-term strategic initiatives while maintaining financial flexibility. It creates a financial buffer that could support various strategic objectives, including potential M&A opportunities, research and development expansion, or commercial infrastructure investments, all while preserving shareholder value through the non-dilutive structure.
– Provides non-dilutive financing flexibility and supplements strong balance sheet
"Sarepta's financial strength and the positive outlook for our business provide us with the flexibility to use non-dilutive financing by establishing a revolving credit facility. It supplements our strong balance sheet and allows for contingent liquidity as we execute our strategic plan to achieve our Sarepta 2030 objectives. Access to this instrument is a testament to our robust future cash and EBITDA growth trajectory and we were very pleased with the strong backing from the lenders during this process, which resulted in oversubscribed demand," stated Ian Estepan, executive vice president, chief financial officer, Sarepta Therapeutics.
JPMorgan Chase Bank, N.A. serves as Administrative Agent and acted as Lead Arranger and Joint Bookrunner. The syndicate also includes Barclays Bank PLC, Citizens Bank, N.A., Goldman Sachs
About Sarepta Therapeutics
Sarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold leadership positions in Duchenne muscular dystrophy (Duchenne) and limb-girdle muscular dystrophies (LGMDs) and are building a robust portfolio of programs across muscle, central nervous system, and cardiac diseases. For more information, please visit www.sarepta.com or follow us on LinkedIn, X, Instagram and Facebook.
Internet Posting of Information
We routinely post information that may be important to investors in the 'For Investors' section of our website at www.sarepta.com. We encourage investors and potential investors to consult our website regularly for important information about us.
Forward Looking Statements:
This press release contains “forward-looking statements.” Any statements that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believe,” “anticipate,” “plan,” “expect,” “will,” “may,” “intend,” “prepare,” “look,” “potential,” “possible” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements relating to our financial position, Sarepta 2030 goals and the revolving credit facility.
These forward-looking statements involve risks and uncertainties, many of which are beyond Sarepta’s control. Actual results could materially differ from those stated or implied by these forward-looking statements as a result of such risks and uncertainties. Known risk factors include the following: our revenues and operating results could fluctuate significantly, which may adversely affect our stock price; if the actual number of patients suffering from the diseases we aim to treat is smaller than estimated, our revenue and ability to achieve profitability may be adversely affected; we may not be able to execute on our business plans, including meeting our expected or planned regulatory milestones and timelines, research and clinical development plans, and bringing our product candidates to market, for various reasons, some of which may be outside of our control, including possible limitations of company financial and other resources, manufacturing limitations that may not be anticipated or resolved for in a timely manner, and regulatory, court or agency decisions, such as decisions by the United States Patent and Trademark Office with respect to patents that cover our product candidates; and those risks identified under the heading “Risk Factors” in our most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) as well as other SEC filings made by the Company which you are encouraged to review.
Any of the foregoing risks could materially and adversely affect the Company’s business, results of operations and the trading price of Sarepta’s common stock. For a detailed description of risks and uncertainties Sarepta faces, you are encouraged to review the SEC filings made by Sarepta. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Sarepta does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof, except as required by law.
Source: Sarepta Therapeutics, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250214556824/en/
Investor Contact:
Ian Estepan, 617-274-4052
iestepan@sarepta.com
Media Contact:
Tracy Sorrentino, 617-301-8566
tsorrentino@sarepta.com
Source: Sarepta Therapeutics, Inc.
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