Alkermes cuts spreads on $1.5B term loan facilities

Alkermes plc entered into Amendment No. 1 to its existing senior secured credit agreement, which governs a term loan A facility and a term loan B facility.

Rhea-AI Filing Summary

Alkermes plc entered into Amendment No. 1 to its existing senior secured credit agreement, which governs a term loan A facility and a term loan B facility. The term loan A facility has an outstanding principal amount of $745,312,500 and matures on February 12, 2031, while the term loan B facility has an outstanding principal amount of $773,062,500 and matures on August 12, 2031.

The amendment reduces the interest rate spread on these facilities, lowering the spread on the term loan A facility by 0.75% and on the term loan B facility by 0.50%. After the changes, borrowings under the term loan A facility bear interest at either the Term SOFR Rate plus a Secured Net Leverage Ratio-based margin of 1.75%–2.25% per year, or the Alternate Base Rate plus a margin of 0.75%–1.25%. Borrowings under the term loan B facility bear interest at either the Term SOFR Rate plus 2.25% per year or the Alternate Base Rate plus 1.25%, at the company’s option.

Positive

• Interest spreads reduced by 0.75% on the TLA Facility and 0.50% on the TLB Facility, which lowers borrowing costs on over $1.5 billion of senior secured term loans.

Negative

• None.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Term Loan A outstanding: $745,312,500.00 Term Loan B outstanding: $773,062,500 TLA spread reduction: 0.75% +5 more

8 metrics

Term Loan A outstanding $745,312,500.00 Outstanding principal amount under senior secured term loan A facility

Term Loan B outstanding $773,062,500 Outstanding principal amount under senior secured term loan B facility

TLA spread reduction 0.75% Reduction in interest rate spread under term loan A facility

TLB spread reduction 0.50% Reduction in interest rate spread under term loan B facility

TLA Term SOFR margin range 1.75%–2.25% Margin over Term SOFR on term loan A after amendment

TLA Alternate Base Rate margin range 0.75%–1.25% Margin over Alternate Base Rate on term loan A after amendment

TLB Term SOFR margin 2.25% Margin over Term SOFR on term loan B after amendment

TLB Alternate Base Rate margin 1.25% Margin over Alternate Base Rate on term loan B after amendment

Key Terms

senior secured term loan, Term SOFR Rate, Alternate Base Rate, Secured Net Leverage Ratio, +1 more

5 terms

senior secured term loan financial

"The Credit Agreement provides for a senior secured term loan A facility"

A senior secured term loan is a type of borrowing where a company borrows money and promises to pay it back over a fixed period, with the loan secured by the company's assets as collateral. Because it is "senior," it has priority over other debts if the company faces financial trouble, and being "secured" means lenders have a claim on specific assets. For investors, this makes the loan a safer and more predictable investment compared to unsecured or subordinate debts.

Term SOFR Rate financial

"borrowings under the TLA Facility will bear interest at an annual rate of, at our option, either (i) the Term SOFR Rate"

Term SOFR rate is a forward-looking interest rate for a set period (for example one or three months) based on the overnight cost of borrowing cash using Treasury securities as collateral. Think of it as a quoted, agreed-upon lending rate for a future interval, like locking in the expected short-term borrowing cost ahead of time. Investors care because it is used to price loans, bonds and derivatives as a transparent replacement for older benchmarks, affecting interest payments and valuation.

Alternate Base Rate financial

"or (ii) the Alternate Base Rate (as defined in the Credit Agreement) plus a Secured Net Leverage Ratio-based margin"

Secured Net Leverage Ratio financial

"plus a Secured Net Leverage Ratio (as defined in the Credit Agreement)-based margin"

Secured net leverage ratio measures how much backed debt a company carries after using available cash, compared with the cash the business generates to service that debt. Think of it as how many years of a household’s take-home pay would be needed to pay off the mortgage that is tied to the house itself. Investors use it to gauge default risk, financial flexibility, and whether borrowing limits or interest costs may pressure future returns.

Administrative Agent financial

"JPMorgan Chase Bank, N.A., as Administrative Agent, Joint Lead Arranger and Joint Bookrunner"

An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What credit facilities did Alkermes (ALKS) amend on August 12, 2026?

Alkermes amended its senior secured term loan A and term loan B facilities. The TLA has $745,312,500 outstanding, and the TLB has $773,062,500 outstanding, both under a February 12, 2026 credit agreement.

How did the August 12, 2026 amendment affect ALKS’s interest spreads?

The amendment reduced interest spreads, cutting the term loan A spread by 0.75% and the term loan B spread by 0.50%. These lower margins apply over either Term SOFR or the Alternate Base Rate.

What are the new interest margin ranges on Alkermes (ALKS) term loan A facility?

After the amendment, term loan A borrowings bear interest at Term SOFR plus 1.75%–2.25% or the Alternate Base Rate plus 0.75%–1.25%, with the exact margin based on Alkermes’ Secured Net Leverage Ratio.

What are the maturities of Alkermes (ALKS) term loan A and term loan B facilities?

The term loan A facility matures on February 12, 2031, and the term loan B facility matures on August 12, 2031. These maturity dates remain in place under the amended credit agreement.

How is interest calculated on Alkermes (ALKS) term loan B facility after the amendment?

After the amendment, term loan B borrowings bear interest at Alkermes’ option at either the Term SOFR Rate plus a 2.25% margin per year or the Alternate Base Rate plus a 1.25% margin per year.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/12/2026 - 09:27 AM Accepted by SEC EDGAR 08/12/2026 - 09:26 AM Learn about SEC filing dates

0001520262falseAlkermes plc.00015202622026-08-122026-08-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 12, 2026

ALKERMES PUBLIC LIMITED COMPANY

(Exact name of registrant as specified in its charter)

Ireland		001-35299				98-1007018
(State or other jurisdiction		(Commission				(IRS Employer
of incorporation)		File Number)				Identification No.)
Connaught House, 1 Burlington Road
Dublin 4, Ireland D04 C5Y6
(Address of principal executive offices)

Registrant’s telephone number, including area code: + 353-1-772-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Ordinary shares, $0.01 par value		ALKS		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Term Loan Credit Facilities

On August 12, 2026, Alkermes plc (the “Company”) entered into Amendment No. 1 to Credit Agreement (the “Amendment”), which amends the Credit Agreement, dated as of February 12, 2026 (the “Credit Agreement”), among the Company, as the TopCo Borrower, Alkermes, Inc., as the U.S. Borrower, Alkermes Finance LLC, as the U.S. Co-Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, Joint Lead Arranger and Joint Bookrunner, BofA Securities, Inc., as Joint Lead Arranger and Joint Bookrunner, and the lenders party thereto.

The Credit Agreement provides for a senior secured term loan A facility (the “TLA Facility”) in an outstanding principal amount of $745,312,500.00 and a senior secured term loan B facility (the “TLB Facility”) in an outstanding principal amount of $773,062,500. The TLA Facility matures on February 12, 2031 and the TLB Facility matures on August 12, 2031.

The Amendment reduces the interest rate spread (i) under the TLA Facility by 0.75% and (ii) under the TLB Facility by 0.50%, among other changes. After giving effect to the Amendment, borrowings under the TLA Facility will bear interest at an annual rate of, at our option, either (i) the Term SOFR Rate (as defined in the Credit Agreement), plus a Secured Net Leverage Ratio (as defined in the Credit Agreement)-based margin, ranging from 1.75% to 2.25% per annum, or (ii) the Alternate Base Rate (as defined in the Credit Agreement) plus a Secured Net Leverage Ratio-based margin, ranging from 0.75% to 1.25% per annum. Borrowings under the TLB Facility will bear interest at an annual rate of, at our option, either (i) the Term SOFR Rate plus a margin of 2.25% per annum, or (ii) the Alternate Base Rate plus a margin of 1.25% per annum.

The foregoing description of certain provisions of the Amendment and the underlying Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference into this Item 1.01, and the Credit Agreement, a copy of which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on February 12, 2026.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT INDEX

Exhibit No.		Description
10.1		Amendment No. 1 to Credit Agreement, dated as of August 12, 2026 by and among Alkermes plc, as the TopCo Borrower, Alkermes, Inc., as the U.S. Borrower, Alkermes Finance LLC, as the U.S. Co-Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the arrangers and lenders party thereto.
104		Cover page interactive data file (embedded within the Inline XBRL document).

2

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.

	ALKERMES PLC
Date: August 12, 2026	By:		/s/ David J. Gaffin
			David J. Gaffin
			Secretary

3

Filing Exhibits & Attachments

2 documents

Agreements & Contracts

• EX-10.1 EX-10.1 2.9 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 29.9 KB