Alvogen Successfully Completes Major Refinancing Initiative to Strengthen Capital Structure

Alvogen Completes Comprehensive Refinancing

Alvogen Pharma US, Inc., a privately owned pharmaceutical company based in the United States, has announced the successful completion of a significant refinancing of its capital structure. This pivotal move involved raising a substantial sum of $553 million through a first lien term loan due in 2028, along with an additional $116 million from a second lien term loan scheduled to mature in 2029. This refinancing initiative was primarily aimed at settling existing secured term loans that were set to expire in 2025, as well as covering associated fees and expenses.

Lisa Graver, the Chief Executive Officer of Alvogen, expressed her satisfaction with the successful completion of this refinancing initiative, emphasizing its importance for restructuring the company’s capital and enhancing long-term financial strategies. "We are pleased to have completed this important refinancing for Alvogen, which strengthens our capital structure in terms of maturity and continued access to substantial liquidity, while also preserving flexibility to execute on our long-term business strategy," Graver stated.

In addition to securing the first lien and second lien term loans, Alvogen has also announced an amendment and extension of its existing $240 million asset-based revolving credit facility, providing even more financial leeway for the company as it moves forward with its operations.

Goldman Sachs & Co. LLC and Jefferies LLC were instrumental as joint financial advisors during this refinancing process, while White & Case LLP acted as legal counsel to Alvogen. The collaboration of these entities served to ensure a smooth and successful financial restructuring.

About Alvogen

Alvogen is recognized for its commitment to developing, in-licensing, manufacturing, and marketing pharmaceutical products. With a focus on complex, high-value pharmaceutical offerings, Alvogen's portfolio includes a variety of products, such as intricate inhalation therapies, injectables, and strategic 505(b)(2) pharmaceutical products. Currently, the company boasts over 50 products available in the market, supported by extensive research and development capabilities which continue to energize its robust product pipeline.

The company’s key stakeholders include notable investment firms, such as Aztiq, an Icelandic healthcare investment company founded by Robert Wessman, as well as CVC Capital Partners and Temasek Holdings from Singapore. Alvogen continues to grow and adapt within the pharmaceutical landscape, ensuring innovation and quality in its product offerings.

For further information on Alvogen and its various initiatives, please visit www.alvogen.com.