BioPharma Credit PLC AMICUS PREPAYMENT (5514T)
July 21 2020 - 1:00AM
UK Regulatory
TIDMBPCR
RNS Number : 5514T
BioPharma Credit PLC
21 July 2020
21 JULY 2020
BioPharma Credit plc
(the "Company")
AMICUS PRepayment
Pharmakon Advisors, the Investment Manager of BioPharma Credit
PLC (the "Company"), received a notice of prepayment for its $150
million senior secured loan with Amicus Therapeutics, Inc.,
(NASDAQ: FOLD, "AMICUS"). As a result, the Company is expected to
receive on or before 4 August 2020, approximately $156.2 million,
comprised of $150 million in principal, $1.2 million in accrued
interest and $5.0 million in make-whole amount and prepayment fees.
This investment is expected to generate an IRR of 13.3% as a result
of the prepayment.
The Company continues to note a highly supportive environment
for its investment strategy and looks forward to updating
shareholders on the further deployment of funds.
Enquiries
BioPharma Credit plc
via Link Company Matters Limited
Company Secretary
+44 (0)1392 477 509
J.P. Morgan Cazenove
+44 (0)20 7742 4000
William Simmonds
Oliver Kenyon
Buchanan
+44 (0)20 7466 5000 / biopharmacredit@buchanan.uk.com
David Rydell
Mark Court
Jamie Hooper
Henry Wilson
Notes to Editors
BioPharma Credit PLC is London's only listed specialist investor
in debt from the life sciences industry and joined the LSE on 27
March 2017. The Company seeks to provide long-term shareholder
returns, principally in the form of sustainable income
distributions from exposure to the life sciences industry. The
Company seeks to achieve this objective primarily through
investments in debt assets secured by royalties or other cash flows
derived from the sales of approved life sciences products.
LEI: 213800AV55PYXAS7SY24
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END
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