The company has scant scheduled debt maturities prior to the $250 million 3.6% senior unsecured notes due July 15, 2022
. Fitch expects FCF over $650 million in 2018 and over $700 million per year in 2019 and 2020.
If Sandoz is unable to secure approval by such date, Sandoz will launch an authorized generic version of Feraheme on July 15, 2022
for up to twelve months.
Specifically, the Issuer is proposing to extend the Scheduled Maturity Date from July 15, 2019 to July 15, 2022
and Legal Maturity Date from July 15, 2021 to July 15, 2024.
They will mature on July 15, 2022
and are not redeemable prior to that time.
The maturity date of the amended revolving credit facility was extended to July 15, 2022
, and interest payable on drawings under this facility has been reduced to a rate of LIBOR plus 100 basis points per annum.
Except as set forth in the Supplement, the Notes have the same terms as the $90 million in aggregate principal amount of the 5.313% Senior Notes due May 15, 2021 and the $55 million in aggregate principal amount of the 4.76% Series 2017A Senior Notes due July 15, 2022
(collectively, the "Prior Notes") that the Company previously issued pursuant to the Note Purchase Agreement and the first supplement thereto, respectively.