Financing ·
Arrowhead refinances $400M debt at SOFR plus 5.50%, paying off old facility at $68 million discount
ARWRArrowhead Pharmaceuticals, Inc.
Arrowhead Pharmaceuticals has entered into an Amended and Restated Financing Agreement to refinance its existing senior secured term loans with a new $400.0 million credit facility funded by Sixth Street Lending Partners. The new facility matures on November 2, 2031, and bears interest at three-month Term SOFR plus 5.50% or a base rate plus 4.50%, replacing the previous fixed 15.0% in-kind interest structure. On the closing date of November 2, 2026, Arrowhead used cash on hand to repay approximately $404.4 million outstanding under the old facility, achieving a discount of roughly $68 million against the contractual minimum repayment amount. The new agreement eliminates required revenue sweeps and scheduled amortization, providing greater operational flexibility for the commercial-stage biopharmaceutical company developing RNAi therapeutics.