Alkermes Public Limited Company filed a Form 8-K on August 12, 2026, disclosing that it entered into Amendment No. 1 to its Credit Agreement, reducing interest rate spreads on two senior secured term loan facilities.

Key Highlights

  • Amendment date: Amendment No. 1 to the Credit Agreement was executed on August 12, 2026.
  • TLA Facility balance: The senior secured term loan A facility carries an outstanding principal amount of $745,312,500.00, maturing February 12, 2031.
  • TLB Facility balance: The senior secured term loan B facility carries an outstanding principal amount of $773,062,500, maturing August 12, 2031.
  • Rate spread reduction: The Amendment reduces the interest rate spread on the TLA Facility by 0.75% and on the TLB Facility by 0.50%.
  • Post-amendment TLA pricing: Borrowings under the TLA Facility will bear interest at Term SOFR plus a margin ranging from 1.75% to 2.25% per annum, or Alternate Base Rate plus 0.75% to 1.25% per annum, based on the Secured Net Leverage Ratio.
  • Post-amendment TLB pricing: Borrowings under the TLB Facility will bear interest at Term SOFR plus a fixed margin of 2.25% per annum, or Alternate Base Rate plus 1.25% per annum.

Alkermes Reduces Borrowing Costs Across Both Term Loan Facilities

According to the filing, Alkermes plc (NASDAQ:ALKS), incorporated in Ireland, entered into Amendment No. 1 to its Credit Agreement on August 12, 2026. The underlying Credit Agreement, dated February 12, 2026, was originally entered into among Alkermes plc as the TopCo Borrower, Alkermes, Inc. as the U.S. Borrower, Alkermes Finance LLC as the U.S. Co-Borrower, JPMorgan Chase Bank, N.A. as Administrative Agent, Joint Lead Arranger and Joint Bookrunner, BofA Securities, Inc. as Joint Lead Arranger and Joint Bookrunner, and the lenders party thereto.

The Credit Agreement, as disclosed, provides for two senior secured term loan facilities. The TLA Facility has an outstanding principal amount of $745,312,500.00 and matures on February 12, 2031. The TLB Facility has an outstanding principal amount of $773,062,500 and matures on August 12, 2031. The Amendment, according to the filing, reduces the interest rate spread under the TLA Facility by 0.75% and under the TLB Facility by 0.50%, "among other changes."

After giving effect to the Amendment, as the company disclosed, the TLA Facility will bear interest at the borrower's option at either the Term SOFR Rate plus a Secured Net Leverage Ratio-based margin of 1.75% to 2.25% per annum, or the Alternate Base Rate plus a margin of 0.75% to 1.25% per annum. For the TLB Facility, borrowings will bear interest at either the Term SOFR Rate plus a fixed margin of 2.25% per annum, or the Alternate Base Rate plus a margin of 1.25% per annum. The filing notes that the foregoing description "does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment," which was filed as Exhibit 10.1.

What Was Disclosed

Alkermes plc reported entry into Amendment No. 1 to its Credit Agreement on August 12, 2026, reducing interest rate spreads on its TLA and TLB senior secured term loan facilities and modifying related pricing terms.