Harrow enters $100 million secured credit facility via Oaktree

By Marisa Wong

Los Angeles, March 28 – Harrow announced that it entered into a $100 million secured credit financing agreement with funds managed by Oaktree Capital Management, LP, according to a press release.

The interest-only secured credit facility carries an interest rate equal to three-month SOFR plus 650 basis points, includes flexible terms and covenants and is expected to mature in about three years.

A portion of the proceeds from the new facility was used to pay off debt under Harrow’s existing secured loan with an affiliate of B. Riley Financial, Inc., with the remainder to be used for future milestone payments related to a recently announced acquisition and for general corporate purposes.

Harrow is a Nashville-based eyecare pharmaceutical company.

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