Collegium Pharmaceutical Inc. has closed a new $980 million syndicated credit facility, marking its inaugural agreement of this type. The five-year financing arrangement, maturing in 2030, includes a $580 million initial term loan, a $300 million delayed draw term loan, and a $100 million revolving credit facility. The initial term loan proceeds were used to repay the company’s previous $646 million term loan with Pharmakon Advisors, LP. The new facility offers significantly reduced interest rates, with loans bearing interest at SOFR plus a spread of 2.75% to 3.75% depending on Collegium's leverage ratio. The arrangement is expected to provide meaningful annual interest savings and increased financial flexibility for business development. Truist Bank acted as administrative agent, with several major banks serving as joint bookrunners, lead arrangers, and co-documentation agents.

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