Jazz Pharmaceuticals Reprices and Extends $1.895B Term Loan B Facility

Executive Summary

On September 23, 2026, Jazz Pharmaceuticals plc reported via Form 8-K that its wholly owned subsidiary, Jazz Financing Lux S.à r.l. ("Jazz Lux"), entered into Amendment No. 4 (the "Repricing Amendment") to its Credit Agreement dated May 5, 2021. The amendment successfully reprices and extends the maturity of its $1.895 billion Term Loan B facility.

Key Transaction Terms

• Facility Restructuring: Lenders converted outstanding Tranche B-2 Dollar Term Loans into new Tranche B-3 Dollar Term Loans. Jazz Lux borrowed $273,310,355.18 of additional Tranche B-3 loans to repay non-converting Tranche B-2 loans. Total outstanding principal remains $1,895,000,000.
• Pricing Reduction: Applicable margin was reduced by 50 basis points to Term SOFR + 1.75% (or Alternate Base Rate + 0.75%), compared to the previous margin on Tranche B-2 loans.
• Interest Rate Floor: 0.50% Term SOFR floor; no credit spread adjustment.
• Maturity Extension: Maturity was extended by five years, moving from May 5, 2028, to May 5, 2033.
• Amortization Schedule: Quarterly payments equal to 0.25% of the initial principal amount, with the remaining balance due at final maturity on May 5, 2033.

Strategic and Financial Implications

This transaction optimizes the company's capital structure by locking in a 50 bps reduction in annual interest expense across a $1.895 billion debt tranche, resulting in approximately $9.475 million in annual cash interest savings. Furthermore, pushing maturity out to 2033 significantly lengthens the company's debt maturity profile and improves financial flexibility.