Amneal Pharmaceuticals Reprices Term Loan; $2.084B in Amendment No. 3 Loans

What Happened

• On August 3, 2026, Amneal Pharmaceuticals, Inc.’s subsidiary Amneal Pharmaceuticals LLC and certain guarantor subsidiaries entered into Amendment No. 3 to their Term Loan Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent.
• The amendment converted existing term loans into new loans with an aggregate principal of $2.039 billion and added a new $45.2 million term loan (collectively, the Amendment No. 3 Term Loans). Proceeds from the new loan were used to prepay any non-converted pre-existing term loans.
• The repricing reduces the interest margin by 50 basis points to 1.50% for loans priced off the base rate and to 2.50% for loans priced off the secured overnight financing rate (SOFR). The stated maturity remains August 1, 2032.

Key Details

• Date of amendment: August 3, 2026; original Credit Agreement dated November 14, 2023.
• Converted term loans: $2.039 billion; Additional term loan: $45.2 million; combined ≈ $2.084 billion.
• Interest margin cut: -50 basis points (to 1.50% base-rate loans; 2.50% SOFR loans).
• Allows future repricing without a prepayment premium if that repricing occurs after February 3, 2027.
• Amneal estimates approximately $12 million in annualized cash interest savings based on outstanding amounts immediately prior to the amendment.

Why It Matters

• The amendment lowers Amneal’s borrowing costs and is expected to reduce annual cash interest expense by about $12 million, which can improve near-term cash flow available for operations, R&D, or debt reduction.
• Maturity is unchanged (August 1, 2032), so the repricing improves interest expense without extending near-term debt maturity risk.
• The filing also notes (Item 2.03) that these Amendment No. 3 Term Loans constitute direct financial obligations of the company. The full Repricing Amendment is attached as Exhibit 10.1 to the 8-K for investors seeking detailed terms.