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HLS Therapeutics Announces New Credit Agreement
HLS Therapeutics Announces New Credit Agreement Canada NewsWire CAD $79...
About this update from Hls Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\n HLS Therapeutics Announces New Credit Agreement\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n CAD\n \n $79 million\n \n term loan replaces USD\n \n $56 million\n \n term loan\n \n\n\n\n\n\n CAD\n \n $107 million\n \n (~USD\n \n $77.5 million\n \n ) total facility provides enhanced financial flexibility\n \n\n\n\n\n\n CAD-denominated facility reduces FX exposure and lowers interest rate\n \n\n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 20, 2025\n \n\n /CNW/ - HLS Therapeutics Inc. (\"HLS\" or the \"Company\") (TSX: HLS), a pharmaceutical company focusing on addressing unmet needs in the treatment of psychiatric disorders and cardiovascular disease, announces that the company has entered into a new Credit Agreement (the \"Agreement\") with National Bank of\n \n Canada\n \n (\"National Bank\") as administrative agent which provides for committed credit facilities denominated in Canadian dollars of up to CAD\n \n $107 million\n \n (USD\n \n ~$77.5 million\n \n ).\n \n\n National Bank serves as administrative agent and lead arranger, with the Toronto-Dominion Bank, Royal Bank of\n \n Canada\n \n , and Innovation Federal Credit Union as syndicate members. The Agreement replaced HLS's credit facility with JP Morgan Chase Bank, N.A. which had a maturity date of\n \n August 11, 2026\n \n . On closing, the proceeds from the new term facility were used to repay the Company's existing credit agreement in full. The new Agreement has a maturity date of\n \n August 19, 2029\n \n .\n \n\n The Agreement consists of a CAD\n \n $79 million\n \n term credit facility, a CAD\n \n $14 million\n \n delayed draw facility and a CAD\n \n $14 million\n \n revolving credit facility. In addition, HLS can increase facilities further through an uncommitted CAD\n \n $40 million\n \n accordion facility (subject to Lender agreement).\n \n\n Interest on the Agreement accrues at a rate per month equal to the sum of the Canadian Overnight Repo Rate Average (\"CORRA\") plus a range of 2.25% to 3.50% depending on the leverage ratio of the Company at the t...