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Indivior replaces $484 million in dollar, euro debt facilities

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Indivior replaces $484 million in dollar, euro debt facilities

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(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)

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