Jazz Pharmaceuticals reprices and extends term loan B facility
Jazz Lux amended its credit agreement on September 23, 2026, cutting the interest margin by 50 basis points and pushing the maturity date out five years to 2033.
Jazz Pharmaceuticals subsidiary Jazz Financing Lux S.à r.l. entered into a fourth amendment to its 2021 credit agreement on September 23, 2026, described as the "Repricing Amendment," extending the maturity date and repricing the outstanding U.S. dollar term loan B-2 facility that had been incurred on July 19, 2024.1
Under the amendment, existing lenders converted outstanding Tranche B-2 Dollar Term Loans into a new Tranche B-3 Dollar Term Loans, and Jazz Lux borrowed an additional $273,310,355.18 in aggregate principal to repay the portion of B-2 loans that were not converted.1
The new tranche carries largely the same structure as its predecessor. The Tranche B-3 loans have substantially the same material terms as the prior B-2, B-1, and initial term loans, with the maturity date amended to May 5, 2033 from May 5, 2028.1 The outstanding principal totaled $1,895,000,000 both immediately before and immediately after the amendment.1
On pricing, the Tranche B-3 loans bear interest at either Term SOFR or the prime lending rate plus an applicable margin, with that margin set at 1.75% for SOFR borrowings and 0.75% for prime borrowings, a 50 basis point decrease from the prior B-2 margin.1 The loans are subject to a Term SOFR floor of 0.50% and will not carry a credit spread adjustment.1
Repayment terms remain in quarterly installments. The Tranche B-3 loans will amortize in quarterly installments equal to 0.25% of the initial principal amount, with the remaining balance due on May 5, 2033.1
The filing was signed by Philip L. Johnson, Executive Vice President and Chief Financial Officer, on September 23, 2026.
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