BioPharma Credit PLC STATEMENT RE TESARO (3034J)
December 04 2018 - 2:01AM
UK Regulatory
TIDMBPCR
RNS Number : 3034J
BioPharma Credit PLC
04 December 2018
4 December 2018
BIOPHARMA CREDIT PLC
(THE "COMPANY")
STATEMENT RE TESARO
Pharmakon Advisors, the Investment Manager of BioPharma Credit
PLC (the "Company") notes the announcement released yesterday by
GlaxoSmithKline plc ("GSK") regarding the definitive agreement
pursuant to which GSK will acquire TESARO Inc ("TESARO"). The
Company's largest investment is a two-tranche $322 million loan to
TESARO, which includes a prepayment fee structure of a premium of 3
per cent., 2 per cent., or 1 per cent. if the loan is prepaid
before the second, third, or fourth anniversaries of the relevant
closing date respectively plus, if the prepayment is made before
the second anniversary, a make whole amount equal to the interest
payable between the prepayment date and the second anniversary of
the relevant closing date. Pharmakon will continue to monitor the
situation and update shareholders as appropriate.
Enquiries
BioPharma Credit plc
via Link Company Matters Limited
Company Secretary
+44 (0)1392 477 509
Buchanan
+44 (0)20 7466 5000 / biopharmacredit@buchanan.uk.com
David Rydell
Mark Court
Jamie Hooper
Henry Wilson
Notes to Editors:
BioPharma Credit PLC is London's only listed specialist investor
in debt from the life sciences industry and joined the LSE on 27
March 2017. The Company seeks to provide long-term shareholder
returns, principally in the form of sustainable income
distributions from exposure to the life sciences industry. The
Company seeks to achieve this objective primarily through
investments in debt assets secured by royalties or other cash flows
derived from the sales of approved life sciences products.
LEI: 213800AV55PYXAS7SY24
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END
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