Lotus Pharmaceutical (TPE:1795) extended a new loan of NT$953.4 million to its US subsidiary, Alovgen Pharma US, according to a Monday Taiwan bourse filing.

The pharmaceutical company said the loan was granted against a lending limit of NT$9.72 billion and is intended to support daily operational needs.

The loan carries an interest rate of three-month term secured overnight financing rate (SOFR) plus 10.5%, with a tenor of one year from the date of its first drawdown.