Latham Advises BridgeBio on its Existing Senior Secured Credit Facility to Extend Its Financial Runway

The amendment helps facilitate BridgeBio’s drug development programs by strengthening the company’s balance sheet.

May 16, 2022

BridgeBio Pharma, Inc. (Nasdaq: BBIO) (BridgeBio), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, has announced that it has entered into a first amendment to its existing senior secured credit facility, pursuant to which the parties thereto have agreed, among other things, to permit sale of a certain priority review voucher (PRV) issued by the US Food and Drug Administration (FDA), to generally permit sale of other priority review vouchers, to amend the amortization schedule such that the entire principal balance of the term loan advances is scheduled to be due and payable at maturity, among other amendments intended to strengthen BridgeBio’s balance sheet.

Latham & Watkins LLP advised BridgeBio on the amendment (and the original credit facility) with a transactional team led by Bay Area finance partners Haim Zaltzman and Dan Van Fleet, with associate Tony Noh. Advice was also provided on regulatory matters by Washington, D.C. associate Chad Jennings; and on tax matters by Los Angeles partner Eric Cho.

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