Sarepta Therapeutics Secures $600 Million Revolving Credit Facility

Sarepta Therapeutics, Inc. (NASDAQ: SRPT) recently announced the execution of a significant credit agreement. On February 13, 2025, the company, along with its wholly-owned subsidiary Sarepta Therapeutics Investments, Inc., finalized a credit agreement with JPMorgan Chase Bank, N.A. The agreement includes a five-year senior secured revolving credit facility amounting to $600 million.

The terms of the Revolving Credit Facility involve variable interest rates pegged to the Secured Overnight Financing Rate, with an additional credit spread adjustment and margin based on Sarepta’s total gross leverage ratio. Alternatively, the agreement allows Sarepta to opt for a base reference rate linked to various financial metrics. The company will incur standard agency fees and a commitment fee proportional to the daily unused portion of the Revolving Credit Facility.

This credit arrangement does not require amortization, with maturity set for the fifth anniversary of the Closing Date. Furthermore, as part of the agreement, the Obligors and Collateral Agent entered into a pledge and security agreement, securing a substantial portion of their assets.

The Credit Agreement includes customary provisions such as representations, warranties, covenants, and defaults. Financial covenants are outlined, with evaluations scheduled for each fiscal quarter. Notable financial metrics involve a secured net leverage ratio maximum and a consolidated interest coverage ratio minimum.

Additional details of the Credit Agreement can be found in the full text attached to the 8-K SEC filing submitted by Sarepta Therapeutics. This agreement aims to offer financial flexibility and resources to support the company’s growth strategies and operational requirements going forward.

In related news, Warner Music Group Corp. declared a quarterly cash dividend of $0.18 per share on its Class A Common Stock and Class B Common Stock, payable on March 4, 2025. Warner Music Group continues to make strides in its diverse portfolio of artists and creative endeavors, as detailed in its recent announcement.

Investors keen on tracking further developments can visit Warner Music Group’s website and refer to the company’s latest filings with the Securities and Exchange Commission for comprehensive information and financial updates.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sarepta Therapeutics’s 8K filing here.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.