Indivior 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
Facilities").
Proceeds from the new term notes
will be used to fully repay the existing term loan and pay related
transaction fees and expenses. Excess
proceeds from the notes, along with the variable notes, will be
used for working capital and other general corporate
purposes.
Highlights:
- Extends Indivior's maturity profile by refinancing the
existing term loan with 6-year New Debt Facilities;
- Improves 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 covenant.
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 November 8, 2024.
Important Cautionary Note Regarding Forward-Looking
Statements
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 events.
About Indivior
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 visiting
www.linkedin.com/company/indivior.
Contact:
Media:
US
Cassie France-Kelly
Vice President, Communications
Indivior PLC
Tel: 804-724-0327
UK
Teneo
Tel: +44 207-353-4200
|
Investors:
Jason Thompson
Vice President, Investor
Relations
Tel: 804-402-7123 or
jason.thompson@indivior.com
Tim Owens
Director, Investor
Relations
Tel: 804-263-3978 or
timothy.owens@indivior.com
|
###