08:41 AM EST, 12/02/2024 (MT Newswires) -- Theratechnologies ( THTX ) on Monday said it finalized a US$40 million three-year credit facility with TD Bank. The facility includes a US$20 million accordion feature, potentially expanding total commitments to up to US$60 million.

Investissement Quebec (IQ), the company's largest shareholder, has also agreed to provide a US$15 million second ranking secured subordinated term loan.

Net proceeds from the new loans, along with cash on hand will be used to repay all obligations including prepayment penalties under the current facility, and to fund business development activities.