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Jazz Pharmaceuticals negotiates increase in credit limit

Jazz Pharmaceuticals PLC negotiated an increase in how much money it can borrow from certain lenders of the company.

The Irish pharmaceuticals company revised its credit agreements with Bank of America NA, a representative of the lenders, to increase the limit on its revolving credit facility to $1.60 billion from $1.25 billion, and to gain access to a $668 million term loan facility.

Jazz Pharmaceuticals also now has additional time to repay the debt after lenders agreed to extend the maturity date of the credit agreement to June 7, 2023, from July 12, 2021.

Jazz Pharmaceuticals plans to use any amounts borrowed for capital expenditures, including acquisitions, and for ongoing working capital requirements.