Business
Medexus Announces US$51.0 million in New Credit Facilities and Intention to Commence Normal Course Issuer Bid, or NCIB, for its Common Shares
Toronto, Ontario and Chicago, Illinois--(Newsfile Corp. - November 17, 2025) - Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) today entered into a new senior secured credit agreement with National Bank of Canada as administrative agent. The credit agreement provides for a US$21.0 million term loan facility and a US$5.0 million revolving loan facility. The term loan facility benefits from an additional US$10.0 million delayed draw feature, intended to finance future licensing and acquisition..
About this update from National Bank Of Canada
[{"type":"text","content":"Toronto, Ontario and Chicago, Illinois--(Newsfile Corp. - November 17, 2025) - Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) today entered into a new senior secured credit agreement with National Bank of Canada as administrative agent. The credit agreement provides for a US$21.0 million term loan facility and a US$5.0 million revolving loan facility. The term loan facility benefits from an additional US$10.0 million delayed draw feature, intended to finance future licensing and acquisition transactions, and a US$15.0 million uncommitted accordion feature. The new facilities will mature on November 17, 2029, being four years from the date of the credit agreement.","length":674,"tagName":"p"},{"type":"text","content":""We are pleased to announce this long term, non-dilutive financing, which demonstrates our access to capital on competitive terms," commented Brendon Buschman, Chief Financial Officer of Medexus. "Medexus has demonstrated an improving financial and operating profile since the launch of GRAFAPEX™ (treosulfan) for Injection in February 2025, and we are pleased that our new partners at National Bank of Canada have recognized the strength and potential of our business, including as we look beyond the GRAFAPEX™ launch."","length":540,"tagName":"p"},{"type":"text","content":"Medexus used the net proceeds of the new term loan facility to satisfy its obligations under Medexus's existing senior secured credit facilities which otherwise would have matured in March 2026. Borrowings under the new term loan facility bear interest at a rate of adjusted term SOFR (or other customary base rate, depending on the type of borrowing) plus a margin determined quarterly based on Medexus's consolidated net leverage ratio. The weighted average interest rate will initially be 6.74%. This rate compares favorably to Medexus's now-repaid term loan and revolving loan facilities, which had a weighted average interest rate of 6.95% as of the repayment date.","length":682,"tagName":"p"},{"type":"text","content":"In furtherance of Medexus's capital allocation strategy, Medexus also intends to commence a normal course issuer bid, or NCIB, for its common shares, subject to the approval of the Toronto Stock Exchange (TSX). If approved by the TSX, Medexus would be permitted to purchase for cancellation, through fa...