Supernus Pharmaceuticals, a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, entered into a credit line agreement with UBS Bank providing the company an uncommitted demand secured line of credit of up to $150 million, which can be drawn at any time.
Any fixed rate borrowing will bear interest at a fixed interest rate, equal to the sum of the UBS fixed funding rate plus the applicable percentage spread established in the credit line. Any variable rate borrowing will bear interest at a variable interest rate, equal to the sum of the UBS variable rate plus the applicable percentage spread established in the credit line.
“We are pleased to further enhance the strength and flexibility of our balance sheet with this line of credit,” Jack Khattar, president and CEO of UBS, said.
