Pacira BioSciences, a provider of non-opioid pain management and regenerative health solutions, closed a $375 million senior secured term loan B facility. JPMorgan Chase Bank acted as bookrunner and lead arranger and Silver Point Finance acted as syndication agent.
“We believe this successful debt offering provides further validation of the strength of our forecasted earnings and operating cash flow. This additional capital should accelerate our near-term growth and support our long-term strategic initiatives. We remain confident in our five-year plan to achieve robust revenue and earnings expansion,” Charles Reinhart, CFO of Pacira BioSciences, said.
Pacira BioSciences will use proceeds of the term loan for general corporate purposes and to replenish a portion of the company’s funds used to pay the purchase price and transaction costs of the acquisition of Flexion Therapeutics and related transactions. The company will also use the proceeds to repay the remaining principal value of its 2.375% convertible senior notes due 2022.
