Full Press Release Details
Completes Refinance of Secured Term Loan;
Enhances Liquidity and Financial Flexibility
Richmond, VA, November 5, 2024 - Indivior PLC (NASDAQ/LSE: INDV) today announced
that its wholly-owned subsidiary, RBP Global Holdings Limited (the
"Issuer"), has entered into an agreement with Piper Sandler Finance
LLC and certain purchasers for $400 million of senior secured
notes, comprised of $350 million term notes and $50 million
revolver in the form of variable notes (the "New Debt
Proceeds from the new term notes will be used to fully repay the
existing term loan and pay related transaction fees and
proceeds from the notes, along with the variable notes, will be
used for working capital and other general corporate
Indivior's maturity profile by refinancing the existing term loan
with 6-year New Debt Facilities;
Indivior's liquidity position by more than $250 million to support
operating and strategic; initiatives from i) upsizing the Company's
term debt to $350 million, ii) adding a new $50 million revolver
and iii) removing the existing minimum liquidity
Additional details can be found in the Note Purchase Agreement
the Company intends to file in Form 6-K with
the U.S. Securities and Exchange Commission by
Important Cautionary Note Regarding Forward-Looking
This news release contains certain statements that are
forward-looking. Forward-looking statements include, among other
things, express and implied statements regarding: our ability to
borrow in the future, and other statements containing the words
"believe," "anticipate," "plan," "expect," "intend,"
"estimate," "forecast," "strategy," "target," "guidance,"
"outlook," "potential," "project," "priority," "may," "will,"
"should," "would," "could," "can," "outlook," "guidance," the
negatives thereof, and variations thereon and similar expressions.
By their nature, forward-looking statements involve risks and
uncertainties as they relate to events or circumstances that
may or may not occur in the future.
Actual results may differ materially from those because they relate
to future events. Various factors may cause differences between
Indivior's expectations and actual results, including, among
others, our future compliance with the covenants in the Note
Purchase Agreement and the accuracy of the representations and
warranties made therein, both of which are a precondition to future
issuance of variable notes; and the risks described in our most
recent annual report on Form 20-F beginning on page 9 as filed with
the U.S. SEC and in subsequent releases.
Forward-looking statements speak only as of the date that they are
made and should be regarded solely as our current plans, estimates
and beliefs. Except as required by law, we do not undertake
and specifically decline any obligation to update, republish or
revise forward-looking statements to reflect future events or
circumstances or to reflect the occurrences of unanticipated
Indivior is a global pharmaceutical company working to help change
patients' lives by developing medicines to treat substance use
disorders (SUD), overdose and serious mental illnesses. Our vision
is that all patients around the world will have access to
evidence-based treatment for the chronic conditions and
co-occurring disorders of SUD. Indivior is dedicated to
transforming SUD from a global human crisis to a recognized and
treated chronic disease. Building on its global portfolio of OUD
treatments, Indivior has a pipeline of product candidates designed
to both expand on its heritage in this category and potentially
address other chronic conditions and co-occurring disorders of SUD,
including alcohol use disorder and cannabis use disorder.
Headquartered in the United States in Richmond, VA, Indivior
employs over 1,000 individuals globally and its portfolio of
products is available in over 30 countries worldwide.
Visit www.indivior.com to
learn more. Connect with Indivior on LinkedIn by
.com/company/indivior.