Emergent BioSolutions Successfully Refinances Term Loan, Amends Asset-backed Loan Facility and Increases Financial Flexibility

Emergent BioSolutions has completed the refinancing of Emergent BioSolutions, a pharmacy business in Maryland, for $150 million. Emergent BioSolutions operates in the healthcare sector with a focus on pharmaceutical and pharmacy-related capabilities, supporting manufacturing and supply needs in Gaithersburg, MD. The company refinanced its term loan with OrbiMed and amended its Wells Fargo asset-based revolving loan facility to extend maturities through April 2031 and increase borrowing capacity to $50 million. As an other acquisition-related financing action tied to healthcare M&A and MD acquisitions, the $150 million term loan proceeds were used to repay the prior term loan, aiming to reduce interest expense, improve cash position, and enable additional debt capacity for strategic initiatives under its multi-year transformation plan.