PTC Therapeutics repays, terminates credit agreement

By Marisa Wong

Los Angeles, Oct. 19 – PTC Therapeutics, Inc. terminated its credit agreement dated Oct. 27, 2022 with Wilmington Trust NA as administrative agent on Oct. 19, according to an 8-K filing with the Securities and Exchange Commission.

In connection with the termination, the company repaid outstanding principal and accrued interest under the credit facility totaling $302.1 million and paid an additional $82.1 million in prepayment premiums, expenses and other exit fees.

All liens and security interests securing the loans were released upon termination.

The biopharmaceutical company is based in South Plainfield, N.J.

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