.jpg)
7 hours ago
1
Article content
MONTREAL, Oct. 31, 2025 (GLOBE NEWSWIRE) — Knight Therapeutics Inc. (TSX: GUD) (“Knight” or “the Company”), a pan-American (ex-US) specialty pharmaceutical company, announced today that it has closed the syndication of its US$100 million secured revolving credit facility (“the Credit Facility”).
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
On June 17, 2025, Knight had announced that it had closed a US$50 Million revolving credit facility with National Bank of Canada (“NBC”) and initiated a syndication process to increase the size of the facility. As part of the syndication process, Knight has expanded its banking consortium to include three additional banks: Citibank N.A., Canadian Imperial Bank of Commerce (CIBC), and The Toronto-Dominion Bank (“TD”). The consortium (“the Lenders”) now consists of four banks, with NBC as the Lead Arranger.
Article content
Article content
Article content
On October 31, 2025, the revolving credit facility was increased to US$100 million with an accordion feature for an additional US$100 million, subject to receipt of acceptance by the Lenders. The Credit Facility is mainly intended to support the Company’s growth strategy and may also be used for working capital and other corporate purposes.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The Credit Facility has an initial maturity date of June 17, 2028, and can be extended annually by an additional one-year period. The credit facility can be drawn in USD or CAD at the SOFR or CORRA rate plus an applicable margin between 1.25% to 2.75% depending on Knight’s debt leverage. Knight will pay stand-by fees for the undisbursed portion of the credit facility. In addition, the Credit Facility includes certain customary financial and non-financial covenants that the Company must maintain over the period of the agreement. In June 2025, Knight withdrew C$60 million from the credit facility to fund a portion of the Paladin acquisition.
Article content
“We are pleased to partner with NBC and the syndicate of lenders. This credit facility strengthens our relationship with four banks and doubles our borrowing capacity from US$50M to US$100M, with an additional US$100M accordion feature. The financial flexibility of this partnership positions us well for acquisitions as well as supports the growth of our business,” said Arvind Utchanah, Chief Financial Officer of Knight Therapeutics Inc.
Article content
Article content
A copy of the Amended and Restated Credit Agreement will be available on SEDAR at www.sedarplus.ca.
Article content
About Knight Therapeutics Inc.
Article content
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight’s Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc.’s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s web site at www.knighttx.com or www.sedarplus.ca.
Article content
Forward-Looking Statement
Article content
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.’s Annual Report and in Knight Therapeutics Inc.’s Annual Information Form for the year ended December 31, 2024, as filed on www.sedarplus.ca. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except as required by law.
Article content
CONTACT INFORMATION:
Article content
Article content
Article content
Article content
Article content
Article content
Article content
English (US)