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.
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