Akin Gump Advises BioPharma Credit Investment Funds in $500 Million Loan Agreement for TESARO, Inc.
(New York) – TESARO, Inc., an oncology-focused biopharmaceutical company, announced it has entered into a definitive term loan agreement with BioPharma Credit PLC and BioPharma Credit Investments IV Sub LP, investment funds managed by Pharmakon Advisors, LP. Akin Gump advised BioPharma Credit PLC and BioPharma Credit Investments IV Sub LP in the matter.
The loan facility provides TESARO with up to $500 million of borrowing capacity available in two tranches. The first $300 million is expected to be drawn at an initial closing in early December 2017, and an additional tranche of up to $200 million is available for draw at TESARO’s option until December 20, 2018.
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