ADMA Biologics refinances with $135 million two-tranche facility

By Wendy Van Sickle

Columbus, Ohio, Dec. 18 – ADMA Biologics, Inc. executed a definitive credit agreement with Ares Management credit funds for $135 million in total senior secured credit facilities, including a $72.5 million asset-backed revolver and a $62.5 million term loan, according to a news release.

The new facilities have a four-year interest-only maturity.

The full amount was fully drawn at closing, and the proceeds were used, along with existing cash, to repay all obligations under the prior Hayfin Capital Management senior secured credit facility.

“This non-dilutive credit facility with Ares materially reduces ADMA’s nominal interest rate and significantly lowers our total debt by 15%, which further supports ADMA’s rapid earnings growth outlook,” said Adam Grossman, president and chief executive officer of ADMA, in the release. “We have assertively chosen to use a portion of our available cash in a non-dilutive manner, to decrease our overall debt while concurrently improving our borrowing rate."

Ramsey, N.J.-based ADMA is an end-to-end commercial biopharmaceutical company that manufactures, markets and specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.

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