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Alvotech Closes $965 Million Loan Facility
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Alvotech Closes $965 Million Loan Facility
Jul 11, 2024 2:47 AM

05:39 AM EDT, 07/11/2024 (MT Newswires) -- Alvotech ( ALVO ) said Thursday it closed its senior secured first lien term loan facility of $965 million, maturing in June 2029.

The first tranche is a first lien $900 million term loan, while the second tranche is a $65 million first lien, second out term loan. Alvotech ( ALVO ) now has a total gross borrowings balance of $1.04 billion.

The company said that this will allow it to refinance outstanding debt obligations, reduce cost of capital and improve its overall debt maturity profile.

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