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BioPharma Credit PLC - specialist life sciences debt investment trust - Funds first $37.5 million tranche of secured senior loan, announced in April, of up to two tranches worth up to $62.5 million for ImmunoGen Inc. AbbVie Inc on Thursday announced its acquisition of ImmunoGen for total equity value of $10.1 billion. AbbVie and ImmunoGen expect the purchase to close in the middle of 2024. Under the senior secured loan agreement, BioPharma expects a make-whole payment and a 3% prepayment premium. For example, ‘if the transaction were to close on [June 30, 2024], the company would be expected to receive approximately $14.5 million in prepayment and make-whole fees.’ Current stock price: $0.86, up 1.2% in London on Friday morning 12-month change: down 11% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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