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Sarepta Therapeutics Secures $40 Million in Debt Financing

Practices: Finance

Ropes & Gray represented Sarepta Therapeutics, Inc. in its credit and security agreement with Midcap Financial to establish a senior secured term loan facility that allows Sarepta to borrow up to $40 million at an annual rate of 7.75 percent, with a maturity of June 2018, subject to certain conditions and other applicable fees. The deal was announced June 29.

Sarepta is a biopharmaceutical company that makes ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and life-threatening diseases.

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