Sucampo Pharmaceuticals announced the closing of a $250 million term loan credit facility in connection with the financing of its acquisition of R-Tech Ueno. The loans under the credit facility were fully allocated to institutional investors and bear interest at a LIBOR plus 7.25% or base rate plus 6.25% and a final maturity date of October 16, 2021.

According to an 8-K filing, the lender group was led by Jefferies Finance, as administrative agent and collateral agent.

Rockville, MD-based Sucampo Pharmaceuticals is focused on the development and commercialization of medicines that meet major unmet medical needs of patients worldwide. Sucampo has one marketed product — AMITIZA — and a pipeline of product candidates in clinical development.