Press release
Sarepta Therapeutics Announces Inaugural $600 Million Senior Secured Revolving Credit Facility
– Provides non-dilutive financing flexibility and supplements strong balance sheet CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Sarepta Therapeutics, Inc.
About this update from Sarepta Therapeutics, Inc.
[{"type":"text","content":"\n– Provides non-dilutive financing flexibility and supplements strong balance sheet\n\n\n CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nSarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, announced today that it has closed on a $600 million senior secured revolving credit facility with a bank syndicate.\n\n\n\"Sarepta's financial strength and the positive outlook for our business provide us with the flexibility to use non-dilutive financing by establishing a revolving credit facility. It supplements our strong balance sheet and allows for contingent liquidity as we execute our strategic plan to achieve our Sarepta 2030 objectives. Access to this instrument is a testament to our robust future cash and EBITDA growth trajectory and we were very pleased with the strong backing from the lenders during this process, which resulted in oversubscribed demand,\" stated Ian Estepan, executive vice president, chief financial officer, Sarepta Therapeutics.\n\n\nJPMorgan Chase Bank, N.A. serves as Administrative Agent and acted as Lead Arranger and Joint Bookrunner. The syndicate also includes Barclays Bank PLC, Citizens Bank, N.A., Goldman Sachs USA, Morgan Stanley Senior Funding, Inc., Royal Bank of Canada, Fifth Third Bank, National Association, UBS AG, Stamford Branch and Bank of America. Additional information about the credit facility is contained in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 14, 2025.\n\n\nAbout Sarepta Therapeutics\n\n\nSarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold leadership positions in Duchenne muscular dystrophy (Duchenne) and limb-girdle muscular dystrophies (LGMDs) and are building a robust portfolio of programs across muscle, central nervous system, and cardiac diseases. For more information, please visit www.sarepta.com or follow us on LinkedIn, X, Instagram and Facebook.\n\n\nInternet Posting of Information\n\n\nWe routinely post information that may be important to investors in the 'For Investors' section of our website at www.sarepta.com. We encourage investors and potential investors to consult our website regularly for important information about us.\n\n\nForward Looking Statements:\n\n\nThis press release contain...