Viatris (VTRS) said Thursday it entered into an amended and restated credit agreement for a 40 billion yen ($247.7 million) senior unsecured term loan with Mizuho Bank as administrative agent.

The company said it will use the proceeds for general corporate purposes, including refinancing its existing unsecured term loan.

The new facility carries an initial interest rate of the TIBO rate plus 1.10%, with the margin subject to changes based on its credit ratings, the company said.

It added that the loan matures three years after closing and may be prepaid without penalty, other than customary breakage costs.