Apotex Receives Investment Grade Issuer Rating from Morningstar DBRS and Announces Amended & Restated Credit Agreement
Apotex Receives Investment Grade Issuer Rating from Morningstar DBRS and Announces Amended & Restated Credit Agreement |
| [16-July-2026] |
TORONTO, July 16, 2026 /PRNewswire/ -- Apotex Health Corp ("Apotex" or the "Company") (TSX: APTX) today announced the successful completion of an amended and restated credit agreement ("Amended Credit Agreement"), establishing a financing framework aligned with the Company's evolution as a publicly traded, investment-grade-rated issuer.
The Amended Credit Agreement reflects Apotex's receipt of an inaugural BBB (low) investment-grade rating from Morningstar DBRS and includes updated pricing and fees. The Amended Credit Agreement terms provide Apotex with lower borrowing costs, reflecting its investment grade credit rating, as well as covenants that allow for greater operational flexibility. The Amended Credit Agreement provides term loan facilities as well as a revolving credit facility with capacity of $1.2 billion. The credit facility is provided by a syndicate of lenders, led by The Bank of Nova Scotia as the Administrative Agent, and The Bank of Nova Scotia, RBC Capital Markets and TD Securities, as Joint Lead Arrangers and Joint Bookrunners. "This amendment to our credit facility represents an important milestone in our continued progression as a public company," said Brian McClelland, CFO, Apotex. "Achieving investment-grade financing terms reflects the strength of our business, balance sheet and cash flow profile. The amended credit agreement lowers our cost of capital, enhances financial flexibility and supports our long-term growth strategy." Apotex expects the new financing framework to support ongoing investment, operational execution and long-term shareholder value creation. About Apotex Apotex is a Canadian-based global health company. We improve everyday access to affordable, innovative medicines and health products for millions of people around the world, with a broad portfolio of generic, biosimilar, and innovative branded pharmaceuticals, and consumer health products. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico, and India, we are the largest Canadian-based pharmaceutical company and a health partner of choice for the Americas for pharmaceutical licensing and product acquisitions. Forward-Looking Statements This press release may contain forward-looking information within the meaning of applicable securities laws, including statements about the Company's evolution as a publicly traded, investment-grade-rated issuer, the Company's continued progression as a public company, the strength of Apotex's business, balance sheet and cash flow profile, the Amended Credit Agreement lowering the cost of capital, enhancing financial and operational flexibility and supporting the Company's long term growth strategy, and the Company's expectation that the new financing framework will support ongoing investment, operational execution and long-term shareholder value creation. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, risks associated with the Company being unable to maintain an investment-grade rating from Morningstar DBRS or a comparable rating from any other rating agency, the Company being unable to continue to evolve and progress as public company, the Company being unable to maintain the strength of its business, balance sheet and cash flow profile, the Company being unable to utilize the Amended Credit Agreement to support its long-term growth strategy, the new financing framework not supporting ongoing investment, financial or operational execution, or long-term shareholder value creation, the Company being unable to pay its indebtedness under the Amended Credit Agreement as it comes due or otherwise being unable to comply with the terms of the Amended Credit Agreement, and the factors discussed under "Risk Factors" in Apotex's public filings. Apotex undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
SOURCE Apotex Health Corp. | ||
Company Codes: Toronto:APTX |
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