Alkermes amends credit facility, cuts interest rate spreads

Alkermes plc entered into Amendment No. 1 to its Credit Agreement on August 12, 2026, revising the financing arrangement that was originally established on February 12, 2026. The agreement involves Alkermes plc as TopCo Borrower, Alkermes, Inc. as U.S. Borrower, Alkermes Finance LLC as U.S. Co-Borrower, JPMorgan Chase Bank, N.A. as Administrative Agent, Joint Lead Arranger and Joint Bookrunner, and BofA Securities, Inc. as Joint Lead Arranger and Joint Bookrunner, with additional lenders also party to the deal.¹

The underlying credit agreement covers two facilities. The senior secured term loan A facility carries an outstanding principal amount of $745,312,500.00, and the senior secured term loan B facility carries an outstanding principal of $773,062,500.¹ The TLA Facility is set to mature on February 12, 2031, and the TLB Facility on August 12, 2031.¹

The core change in the new amendment is a cut to borrowing costs. It lowers the interest rate spread on the TLA Facility by 0.75% and on the TLB Facility by 0.50%, among other changes.¹

Under the revised terms, TLA Facility borrowings will bear interest, at the company's option, at either the Term SOFR Rate plus a margin tied to the Secured Net Leverage Ratio ranging from 1.75% to 2.25% per year, or the Alternate Base Rate plus a margin ranging from 0.75% to 1.25% per year.¹ TLB Facility borrowings will bear interest at either the Term SOFR Rate plus a flat margin of 2.25% per year, or the Alternate Base Rate plus a margin of 1.25% per year.¹

The full text of the amendment was filed as an exhibit to this Form 8-K, and the original credit agreement was previously filed with the SEC as an exhibit to the company's Form 8-K on February 12, 2026.¹