United Therapeutics Enters New Loan Agreement

TL;DR

UNTH just took out a new loan, potentially signaling expansion or operational funding.

AI Summary

On March 29, 2024, United Therapeutics Corporation entered into a material definitive agreement, specifically a loan agreement. This agreement creates a direct financial obligation for the company, indicating it has taken on new debt.

Why It Matters

This filing indicates United Therapeutics has secured new financing, which could impact its capital structure and future investment capabilities.

Risk Assessment

Risk Level: medium — Taking on new debt can increase financial leverage and risk, but also provides capital for growth.

Key Players & Entities

• United Therapeutics Corporation (company) — Registrant
• March 29, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock, par value $0.01 per share UTHR Nasdaq Global Select
• $1.2 billion — ured revolving credit facility of up to $1.2 billion; and (ii) a second unsecured revolving
• $800 million — ured revolving credit facility of up to $800 million (which facilities may, subject to obtai
• $500 million — other conditions, be increased by up to $500 million in the aggregate). The facilities matur

Filing Documents

• tm249556d2_8k.htm (8-K) — 28KB
• 0001104659-24-041160.txt ( ) — 195KB
• uthr-20240329.xsd (EX-101.SCH) — 3KB
• uthr-20240329_lab.xml (EX-101.LAB) — 33KB
• uthr-20240329_pre.xml (EX-101.PRE) — 22KB
• tm249556d2_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. As previously reported, on March 31, 2022, United Therapeutics Corporation (the Company ) entered into a Credit Agreement (the Credit Agreement ) with certain of its subsidiaries party thereto, as guarantors, the lenders referred to therein, and Wells Fargo Bank, National Association ( Wells Fargo ), as administrative agent and as a swingline lender. The Credit Agreement provides for (i) an unsecured revolving credit facility of up to $1.2 billion; and (ii) a second unsecured revolving credit facility of up to $800 million (which facilities may, subject to obtaining commitments from existing or new lenders for such increase and subject to other conditions, be increased by up to $500 million in the aggregate). The facilities mature five years after the closing date of the Credit Agreement, subject to an ability of the lenders thereunder, or certain of the lenders thereunder, to elect to extend the maturity date of their commitments by one year following a request for such extension by the Company in accordance with the terms of the Credit Agreement, up to a maximum of two such extensions. As previously reported, on March 31, 2023, the Company exercised its first one-year extension option, extending the maturity of the commitments and loans of each lender under the Credit Agreement by one year to March 31, 2028. Pursuant to Section 2.7 of the Credit Agreement, the maturity of the commitments and loans of each lender under the Credit Agreement has been extended by one additional year to March 31, 2029. The maturity extension became effective as of March 29, 2024. The foregoing summary is qualified by reference to the copy of the Credit Agreement attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on April 1, 2022 , the full text of which is incorporated herein by reference.

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K regarding the extension of the Credit Agreement is incorporated herein by reference. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED THERAPEUTICS CORPORATION Dated: March 29, 2024 By: /s/ Paul A. Mahon Name: Paul A. Mahon Title: General Counsel