ADMA Biologics amends credit facility via Hayfin for better terms

By Marisa Wong

Los Angeles, May 2 – ADMA Biologics, Inc. amended the terms of its existing senior credit facility with Hayfin Capital Management maturing in March 2027 for multiple favorable changes, according to a press release.

First, there will be a reduction of 100 basis points in the nominal interest expense on ADMA’s current note. This will result in a lowered borrowing rate of SOFR plus 850 bps. Included in this base rate, and consistent with the existing terms of the Hayfin facility, the company may elect to pay up to 2.5% of the interest in kind, with the remaining portion of the interest payable in cash.

Secondly, within the first 24 months after the amendment closing date, among other provisions, there will be a newly structured 50% waiver of the prepayment fee in connection with an acquisition of the company or other strategic transactions.

Taken together, the company believes these changes will reduce its cost of capital and provide for added financial flexibility over the near term and on an ongoing basis.

Ramsey, N.J.-based ADMA is an end-to-end commercial biopharmaceutical company that manufactures, markets and specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.

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