Knight Therapeutics Secures US$100M Credit Facility for Expansion
Knight Therapeutics Inc. (TSX: GUD), a Montreal-based specialty pharmaceutical company, has bolstered its financial capabilities by securing a US$100 million secured revolving credit facility. The company, which focuses on acquiring and commercializing pharmaceutical products for Canada and Latin America, saw three new banks join the facility: Citibank N.A., Canadian Imperial Bank of Commerce (CIBC), and The Toronto-Dominion Bank (TD).
The credit facility, which can be drawn in USD or CAD at the SOFR or CORRA rate plus an applicable margin between 1.25% to 2.75%, was initially increased from US$50 million. It features an accordion feature allowing for an additional US$100 million, subject to lender acceptance. Knight Therapeutics has already utilised the facility, withdrawing C$60 million in June 2025 to fund a portion of the Paladin acquisition.
The facility, syndicated by Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank of Canada, has an initial maturity date of June 17, 2028, with an option for annual extension. The company's shares trade on the TSX under the symbol GUD, and its Annual Report and Annual Information Form, filed on www.sedarplus.ca, outline potential risks and factors that could impact actual results.
With this credit facility, Knight Therapeutics strengthens its financial position, enabling it to pursue further acquisitions and growth opportunities in Canada and Latin America. The company's headquarters are in Montreal, with Latin American subsidiaries operating under United Medical, Biotoscana Farma, and Laboratorio LKM.
