Business
OXB Secures New Loan Facility with Oaktree
OXB Secures New Loan Facility with Oaktree.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n\n \n \n \nOXB Secures New Four-Year Term Loan Facility with Oaktree\n- Up to $125 million Oaktree loan facility to support OXB's global CDMO operations and growth strategy\n- $60 million upfront to repay existing $50 million loan facility and for general corporate purposes\n- Facility provides flexibility to draw down additional funds to support future business needs, if required\n \nOxford, UK - 1 August 2025: OXB (LSE: OXB) (\"the Company\"), a global quality and innovation-led cell and gene therapy CDMO, today announces that it has secured a new four-year loan facility of up to $125 million (the \"New Oaktree Loan\"), provided by funds managed by Oaktree Capital Management, L.P. (\"Oaktree\"), a long-term capital partner to OXB. The new facility will strengthen the Company's financial foundation by refinancing its existing $50 million loan facility and providing financial flexibility to support OXB's global CDMO operations and the delivery of its growth strategy.\n \nThe New Oaktree Loan facility includes $60 million upfront funding available at close, which will be used to repay the existing $50 million four-year term loan facility with Oaktree (previously announced in October 2022) and for general corporate purposes. The facility also includes the option to draw down a further $25 million, subject to customary conditions, and an additional $40 million, subject to achieving certain revenue milestones - providing financial flexibility to support future business needs, if required.\n \nTerms of the New Oaktree Loan are broadly similar to the prior four-year loan facility and include standard and customary provisions relating to mandatory and voluntary prepayments, covenants, representations and warranties. The New Oaktree Loan will not amortise, with the full aggregate principal and outstanding amount being repayable on the final maturity date in 2029.\n \nConsistent with the terms of the existing facility, the New Oaktree Loan will be secured by substantially all of the assets of the Company and its wholly-owned subsidiaries and be guaranteed by the Company's wholly-owned subsidiaries, with customary exceptions.\n \nDr. Lucinda Crabtree, Chief Financial Officer of OXB, com...