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Horizon Pharma USA pays down $100 million of secured term loans
By Angela McDaniels
Tacoma, Wash., July 16 – Horizon Pharma USA, Inc. prepaid $100 million principal amount of senior secured term loans outstanding under its May 7, 2015 credit agreement, according to an 8-K filing with the Securities and Exchange Commission.
The company also said it will redeem its $225 million of 6 5/8% senior notes due 2023 and $300 million of 8¾% senior notes due 2024 on Aug. 9.
The company is repaying the $625 million of debt with $65 million of cash on hand and the proceeds of $600 million of 5½% senior notes due 2027.
Horizon Pharma USA is a subsidiary of Dublin-based biopharmaceutical company Horizon Therapeutics plc.
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