On April 25, 2025, United Therapeutics Corporation entered into a Credit Agreement with the lenders referred to therein and Wells Fargo Bank, National Association as administrative agent and as a swingline lender. The Credit Agreement provides for an unsecured, revolving credit facility of up to $2.5 billion. The facility matures five years after the closing date of the Credit Agreement, subject to an ability of the lenders thereunder, or certain of the lenders thereunder, to elect to extend the maturity date of their commitments by one year following a request for such extension by the Company in accordance with the terms of the Credit Agreement, up to a maximum of two such extensions.
As of April 25, 2025, there are no subsidiaries of the Company required to be a guarantor and guarantee the Company?s obligations under the Credit Agreement. From time to time, one or more subsidiaries of the Company may be required to guarantee the Company?s obligations under the Credit Agreement. At the Company?s option, the loan will bear interest at either an adjusted Term SOFR rate or a fluctuating base rate, in each case, plus an applicable margin that is determined on a quarterly basis based on the Company?s consolidated total leverage ratio (as calculated in accordance with the Credit Agreement).
The proceeds of borrowings under the Credit Agreement are available to refinance certain existing indebtedness of the Company and its subsidiaries and/or for working capital and other general corporate purposes.
