REG - Indivior PLC - Indivior Completes Refinance of Secured Term Loan

IndiviorAnnouncement

05/11/2024 07:00

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RNS Number : 9001K  Indivior PLC  05 November 2024

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
(https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.indivior.com%2F&data=05%7C02%7Ctimothy.owens%40Indivior.com%7C2ee94fc9c2d64161a77008dcbc7a4776%7Cbed52191489442999db948e4fb29646e%7C1%7C0%7C638592480580845033%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=4Mbg93AWrUoMpnYZHhLx6zIpk4UxNX%2FwHchEJzCnyQk%3D&reserved=0)
to learn more. Connect with Indivior on LinkedIn by visiting
www.linkedin.com/company/indivior
(https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.linkedin.com%2Fcompany%2Findivior&data=05%7C02%7Ctimothy.owens%40Indivior.com%7C2ee94fc9c2d64161a77008dcbc7a4776%7Cbed52191489442999db948e4fb29646e%7C1%7C0%7C638592480580860049%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=2ZCnZz793XRzFBKi%2BLrnxdo36oM6ncN5M14bQzMeK%2B8%3D&reserved=0)
.

Contact:

 Media:                           Investors:

 US                               Jason Thompson

Cassie France-Kelly

Vice President, Communications  Vice President, Investor Relations

Indivior PLC

Tel: 804-724-0327               Tel: 804-402-7123 or jason.thompson@indivior.com

                                (mailto:jason.thompson@indivior.com)

 UK

Teneo                           Tim Owens

Tel: +44 207-353-4200

                                  Director, Investor Relations

                                  Tel: 804-263-3978 or timothy.owens@indivior.com
                                  (mailto:timothy.owens@indivior.com)

 

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