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Emergent BioSolutions Signs $100 Million Asset-Backed Loan Facility
Oct 02, 2024•over 1 year ago
Contract Type
agreement
GaithersburgManufacturingBiotechnologyHealth Care
Description
Emergent BioSolutions Inc. announced the closing of a new credit agreement providing for an asset-based revolving loan facility (ABL) with a total principal amount of $100 million. The credit facility, with a fixed maturity date of September 30, 2029, aims to bring additional liquidity to support Emergent’s multi-year transformation plan.
Company Information
Company
Emergent Biosolutions
Location
Gaithersburg, Maryland, United States
About
Emergent Biosolutions is a Maryland-based pharmaceutical company that has sold its sterile manufacturing facility in Camden, Maryland, as part of its restructuring operations. The sale of the facility follows the company's announcement of shuttering its Baltimore and Rockville facilities, with plans to save up to $80 million.
Predictive Intelligence
Strategic
ML-powered predictions for Emergent Biosolutions's next move