Business
Knight Announces Closing of US$100 Million Revolving Credit Facility
MONTREAL, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX: GUD) ("Knight" or “the Company”), a pan-American (ex-US) specialty pharmaceutical company, announced today that it has closed the syndication of its US$100 million secured revolving credit facility (“the Credit Facility”). On June 17, 2025, Knight had announced that it had closed a US$50 Million revolving credit facility with National Bank of Canada (“NBC”) and initiated a syndication process to increase the size of the f
About this update from National Bank Of Canada
[{"type":"image","alt":"Knight Therapeutics","displaySize":"","headline":null,"caption":"Knight Therapeutics","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":79,"url":"https://media.zenfs.com/en/globenewswire.com/b93bf0a7f6cb77587518aee77ae37b63"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nIp9.tgiE4HLNmyfEs7DtA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTExMTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/b93bf0a7f6cb77587518aee77ae37b63","width":300,"height":79}},"lazy":false},{"type":"text","content":"MONTREAL, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX: GUD) ("Knight" or “the Company”), a pan-American (ex-US) specialty pharmaceutical company, announced today that it has closed the syndication of its US$100 million secured revolving credit facility (“the Credit Facility”).","length":307,"tagName":"p"},{"type":"text","content":"On June 17, 2025, Knight had announced that it had closed a US$50 Million revolving credit facility with National Bank of Canada (“NBC”) and initiated a syndication process to increase the size of the facility. As part of the syndication process, Knight has expanded its banking consortium to include three additional banks: Citibank N.A., Canadian Imperial Bank of Commerce (CIBC), and The Toronto-Dominion Bank (“TD"). The consortium (“the Lenders”) now consists of four banks, with NBC as the Lead Arranger.","length":515,"tagName":"p"},{"type":"text","content":"On October 31, 2025, the revolving credit facility was increased to US$100 million with an accordion feature for an additional US$100 million, subject to receipt of acceptance by the Lenders. The Credit Facility is mainly intended to support the Company's growth strategy and may also be used for working capital and other corporate purposes.","length":346,"tagName":"p"},{"type":"text","content":"The Credit Facility has an initial maturity date of June 17, 2028, and can be extended annually by an additional one-year period. The credit facility can be drawn in USD or CAD at the SOFR or CORRA rate plus an applicable margin between 1.25% to 2.75% depending on Knight’s debt leverage. Knight will pay stand-by fees for the undisbursed portion of the credit facility. In addition, the Credit Facility includes certain customary financial and non-financial covenants that the Company must maintain over t...