BioPharma Credit PLC - Winchester, England-based life sciences debt investment trust - Says that together with BioPharma Credit Investments V it has entered into a second amendment and waiver with Akebia Therapeutics Inc. This amends and waives certain provisions of the USD100 million loan agreement dated November 11, 2019. As a result of this amendment Akebia has made a USD25 million prepayment, reducing the outstanding balance to USD75 million. Akebia will make payments on the remaining balance as originally agreed, starting in September. The loan balance is expected to be USD27 million by January 2024.
The company adds that its share of the prepayment will be USD12.5 million, and its share of the remaining balance will be USD37.5 million.
Current stock price: USD0.97, up 2.1% in London on Wednesday
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By Sophie Rose; sophierose@alliancenews.com
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Biopharma Cred. (BPCR)