REYKJAVIK, ICELAND (June 26, 2025) - Alvotech SA (NASDAQ: ALVO, ALVO SDB), a global biotech company known for developing and manufacturing biosimilar medicines, has announced a reduction in the interest rate on its senior secured term loan facility. This agreement, made with its lenders, including GoldenTree Asset Management, will decrease Alvotech's interest payments by an estimated $8.2 million over the next year. The facility, originally consisting of two tranches totaling $965 million, has been restructured into a single tranche with a lower interest rate of SOFR plus 6.0% per annum. The move reflects Alvotech's improved financial performance and investor confidence in its future growth and product launches. As of June 25, 2025, the facility's balance stands at approximately $1,081 million, with a cash balance of around $152 million.
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