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Amneal Pharmaceuticals (NYSE: AMRX) reprices term loans, targets $12M savings

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Amneal Pharmaceuticals, Inc., through subsidiary Amneal Pharmaceuticals LLC, entered into Amendment No. 3 to its Term Loan Credit Agreement, converting on a cashless basis existing term loans into new term loans with an aggregate principal amount of $2.039 billion and incurring an additional $45.2 million term loan used to prepay at par remaining existing loans.

The amendment reduces the interest rate margin on these Amendment No. 3 Term Loans by 50 basis points to 1.50% for base rate loans and 2.50% for loans based on the secured overnight financing rate, while keeping the stated maturity at August 1, 2032. It also permits a future repricing transaction without a prepayment premium if it occurs after February 3, 2027. The company estimates annualized cash interest expense savings of approximately $12 million compared with the prior credit agreement, based on amounts outstanding immediately before the amendment.

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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 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Converted Amendment No. 3 Term Loans $2.039 billion Aggregate principal amount of term loans after cashless conversion of existing term loans
Additional Amendment No. 3 Term Loan $45.2 million Aggregate principal amount of new term loan used to prepay non-converted existing term loans at par
Base rate margin 1.50% Applicable interest rate margin for Amendment No. 3 Term Loans bearing interest at rates based on the base rate
Secured overnight financing rate margin 2.50% Applicable interest rate margin for Amendment No. 3 Term Loans bearing interest at rates based on the secured overnight financing rate
Estimated annual interest savings $12 million Estimated annualized cash interest expense savings relative to the prior credit agreement
Term loan maturity August 1, 2032 Stated maturity date of the Amendment No. 3 Term Loans
No-premium repricing date February 3, 2027 Date after which repricing transactions may occur without a prepayment premium
Term Loan Credit Agreement financial
"entered into that certain Amendment No. 3 to Term Loan Credit Agreement"
A term loan credit agreement is a formal contract where a borrower receives a fixed sum of money from a lender and agrees to repay it over a set period with interest, much like a multi‑year mortgage or car loan for a business. It matters to investors because the size, cost and rules of the loan affect a company’s cash flow, risk of default and ability to invest or pay dividends; restrictive conditions can also force operational changes.
secured overnight financing rate financial
"bearing interest at rates based on the secured overnight financing rate"
A secured overnight financing rate (SOFR) is a daily benchmark interest rate that reflects the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Think of it as the market price to “rent” cash for a day with a very safe pledge, similar to paying a short-term rental fee for money backed by government bonds. Investors track SOFR because it underpins pricing for loans, bonds and derivatives, so movements change borrowing costs, interest income and the valuation of interest-rate–linked positions.
prepayment premium financial
"enter into a repricing transaction without incurring a prepayment premium"
A prepayment premium is a fee a borrower pays when they pay off a loan or debt earlier than agreed, like an early-termination charge on a phone contract. For investors, it affects the timing and amount of cash they receive from loans or mortgage-backed securities, changing expected returns and reinvestment plans because early repayment can return principal sooner or come with extra compensation.
repricing transaction financial
"allows the Company to enter into a repricing transaction without incurring"
guarantors financial
"the Company’s subsidiaries, as guarantors, entered into that certain Amendment"

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FAQ

What change did Amneal Pharmaceuticals (AMRX) make to its term loans on August 3, 2026?
Amneal’s subsidiary entered into Amendment No. 3 to its Term Loan Credit Agreement, converting existing loans into $2.039 billion of new term loans and adding a $45.2 million term loan used to prepay remaining existing loans at par while keeping the maturity date unchanged.

How large are the Amendment No. 3 Term Loans for Amneal Pharmaceuticals (AMRX)?
The amendment creates $2.039 billion of Converted Amendment No. 3 Term Loans and a separate $45.2 million Additional Amendment No. 3 Term Loan. Together, these Amendment No. 3 Term Loans replace or prepay the company’s prior term loans under the existing credit agreement.

How did the interest margins change under Amneal Pharmaceuticals’ (AMRX) amended term loans?
The amendment reduces interest margins by 50 basis points, to 1.50% for base rate loans and 2.50% for loans based on the secured overnight financing rate. These lower margins apply to the Amendment No. 3 Term Loans created through the cashless conversion and new borrowing.

What maturity date applies to Amneal Pharmaceuticals’ (AMRX) Amendment No. 3 Term Loans?
The stated maturity date for the Amendment No. 3 Term Loans remains August 1, 2032. The repricing and conversion of the company’s existing term loans do not change this final maturity, so the debt schedule continues to run through that same date under the amended structure.

How much interest expense savings does Amneal Pharmaceuticals (AMRX) expect from the repricing?
The company estimates annualized cash interest expense savings of approximately $12 million compared with the prior credit agreement. This estimate is based on the amounts borrowed and outstanding immediately before the repricing amendment and reflects the 50 basis point reduction in interest margins.

When can Amneal Pharmaceuticals (AMRX) reprice its term loans again without a prepayment premium?
The amendment allows another repricing transaction without a prepayment premium if it occurs after February 3, 2027. Before that date, any such repricing could still trigger a premium, so the amendment effectively sets a call protection period on further repricing activity.
false000172312800017231282026-02-022026-02-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 3, 2026
AMNEAL PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware001-3848593-4225266
(State or other jurisdiction
of incorporation)		(Commission File Number)(IRS Employer
Identification No.)
400 Crossing Blvd
Bridgewater, NJ 08807
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (908) 947-3120
N/A
(Former Name or Former Address, if Changed Since Last Report) 
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: 
☐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 classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.01 per shareAMRXThe Nasdaq Stock Market LLC
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 1.01Entry into a Material Definitive Agreement.
On August 3, 2026, Amneal Pharmaceuticals, Inc.’s (the "Corporation") subsidiary, Amneal Pharmaceuticals LLC (the “Company”), and certain of the Company’s subsidiaries, as guarantors, entered into that certain Amendment No. 3 to Term Loan Credit Agreement (the “Repricing Amendment”) with JPMorgan Chase Bank, N.A., as administrative agent (the “Agent”), and the other lenders party thereto consenting to the Repricing Amendment. The Repricing Amendment amends certain terms in that certain Term Loan Credit Agreement, dated as of November 14, 2023 (the “Credit Agreement”), by and among the Company, certain of the Company’s subsidiaries party thereto as guarantors, the lenders party thereto and the Agent. Pursuant to the Repricing Amendment, (x) each consenting lender converted, on a cashless basis, its term loans outstanding immediately prior to the Repricing Amendment (the “Existing Term Loans) into new term loans with an aggregate principal amount of $2.039 billion (collectively, the “Converted Amendment No. 3 Term Loans”) and (y) the Company incurred a new term loan with an aggregate principal amount of $45.2 million (the “Additional Amendment No. 3 Term Loan”), the proceeds of which were used to prepay at par any Existing Term Loans not converted into Converted Amendment No. 3 Term Loans (the Converted Amendment No. 3 Term Loans and the Additional Amendment No. 3 Term Loans referred to collectively as the “Amendment No. 3 Term Loans”).

The Repricing Amendment reduces the applicable interest rate margin on the Amendment No. 3 Term Loans by 50 basis points to 1.50% (for the Amendment No. 3 Term Loans bearing interest at rates based on the base rate) and to 2.50% (for the Amendment No. 3 Term Loans bearing interest at rates based on the secured overnight financing rate).

The Repricing Amendment also allows the Company to enter into a repricing transaction without incurring a prepayment premium if such repricing transaction occurs after February 3, 2027. The stated maturity date of the Amendment No. 3 Term Loans of August 1, 2032 remains unchanged.

The Corporation estimates that savings in annualized cash interest expense following entry into the Repricing Amendment relative to the existing Credit Agreement would be approximately $12 million, based on the amounts borrowed and outstanding under the existing Credit Agreement immediately prior to the Repricing Amendment.

The foregoing description of the Repricing Amendment does not purport to be complete and is qualified in its entirety by reference to the Repricing Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03Creation 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 above is incorporated by reference into this Item 2.03.

Cautionary Note Regarding Forward-Looking Statements

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical facts, including without limitation statements regarding the Corporation’s estimated savings related to the entry into the Repricing Amendment. In some cases, you can identify these forward-looking statements by the use of words such as “anticipate,” “aim,” “believe,” “can,” “continue,” “could,” “estimate,” “expected,” “forecast,” “goal,” “ intend,” “may,” “might,” “objective,” “outlook,” “plan,” “potential,” “predict,” “projection,” “seek,” “should,” “target,” “trend,” “will,” “would” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Accordingly, there are or will be important factors that could cause the actual outcomes or results to differ materially from those indicated in these statements. These factors include, but are not limited to, those described in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025 and other reports filed by the Corporation from time to time with the Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in such filings. The Corporation undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.







The following exhibits are furnished herewith:
Exhibit No.Description
10.1
Amendment No. 3 to Term Loan Credit Agreement, dated as of August 3, 2026, by and among Amneal Pharmaceuticals LLC, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
104The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.


SIGNATURES
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.
Date: August 3, 2026AMNEAL PHARMACEUTICALS, INC.
By:/s/ Anastasios Konidaris
Name:Anastasios Konidaris
Title:Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)


Source: View Original Filing on SEC EDGAR

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