December 20, 2023 — 01:41 am EST
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(RTTNews) – Basilea Pharmaceutica Ltd said it will accelerate the repayment of senior secured loan. The senior secured loan from Athyrium Capital Management, LP had an initial total amount of 75 million Swiss francs and a two-year term from September 2022. The company said the accelerated repayment reduces interest payments and fees by approximately 1.5 million francs.
The repayment started as of first quarter 2023 on a quarterly basis. The company now plans to have the loan fully repaid by the end of first quarter 2024.
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