(Reuters) – British drugmaker Indivior <INDV.L> said it replaced all of its U.S. dollar and euro denominated outstanding term loans of about $484 million (£362 million).
The maker of drugs that treat opioid addiction said it amended and extended a total of $534 million worth of debt facilities on Tuesday.
The new term loan facilities reduces Indivior’s interest coupon rate to Libor plus 4.50 percent from Libor plus 6 percent, it said in a statement.
Indivior had a net cash position of $131 million at the end of 2016 versus a net debt of $174 million a year earlier.
In November, The company posted a third quarter profit compared with a year-earlier loss helped by lower costs.
(Reporting by Justin George Varghese in Bengaluru; editing by Jason Neely)