Mallinckrodt subsidiary borrows $95 million revolving loan due 2022

By Sarah Lizee

Olympia, Wash., Aug. 28 – Mallinckrodt plc subsidiary MEH Inc. borrowed $95 million as a revolving loan under its credit facility dated March 19, 2014 with Deutsche Bank AG New York Branch as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The revolving loan matures on Feb. 28, 2022 and is prepayable prior to that, in whole or in part, without premium or penalty at the election of the borrowers.

After giving effect to the incremental borrowing of the revolving loan, there is no remaining availability under the facility.

The revolver draw provides increased liquidity to Mallinckrodt for general business purposes and to address cash needs that may arise in the future, the company said.

Mallinckrodt is a Dublin-based pharmaceutical company with U.S. headquarters in St. Louis.

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