Amneal Pharmaceuticals, Inc. 8-K

What Happened

• Amneal Pharmaceuticals, Inc. filed an 8-K (Feb 3, 2026) disclosing that on Feb 2, 2026 its subsidiary Amneal Pharmaceuticals LLC entered into Amendment No. 2 (the "Repricing Amendment") to its Term Loan Credit Agreement (originally dated Nov 14, 2023) with JPMorgan Chase as administrative agent and consenting lenders. The amendment converts existing term loans into new loans and adds a new term loan, and it reduces the interest margin on the amended term loans.

Key Details

• Converted term loans: $1,960,076,527.50 converted on a cashless basis into new term loans (the "Converted Amendment No. 2 Term Loans").
• Additional term loan: $134,673,472.50 new term loan (the "Additional Amendment No. 2 Term Loan"); together these are the "Amendment No. 2 Term Loans."
• Interest margin cut by 50 basis points to 2.00% over base rate and 3.00% over SOFR; maturity remains August 1, 2032.
• Allows a future repricing after August 2, 2026 without a prepayment premium; Amneal estimates about $11 million in annualized cash interest savings based on pre-amendment balances.
• Item 2.03 (creation of a direct financial obligation) reflects the incurrence of the Additional Amendment No. 2 Term Loan.

Why It Matters

• The amendment reduces Amneal’s borrowing cost on its term loans immediately (50 bps reduction in margins), which management estimates will lower annual cash interest expense by roughly $11 million based on existing balances.
• The change preserves the loan maturity (Aug 1, 2032) and gives flexibility to reprice again after Aug 2, 2026 without a prepayment penalty, potentially enabling further interest savings if market conditions improve.
• For investors, this is a financing/credit-structure update that improves near-term interest expense and cash flow dynamics without extending debt maturity.