Akorn makes voluntary $200 million prepayment on term loan facility

By Tali Rackner

Norfolk, Va., Feb. 25 – Akorn, Inc. said it made a voluntary $200 million prepayment on its outstanding term loan facility on Feb. 16, according to a press release.

Following the prepayment, the company had about $206 million of cash and cash equivalents and roughly $881 million of short- and long-term debt outstanding inclusive of about $43 million in convertible notes due June 2016 that will be settled in shares of Akorn common stock.

Akorn is a Lake Forest, Ill.-based niche pharmaceutical company.

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