Alvotech, the Reykjavík-based global biotech company specializing in the development of biosimilar medicines, announced a $100 million senior term loan facility — in a transaction led by New York-based GoldenTree Asset Management — with maturity in December 2027.
“With the transaction, led by GoldenTree Asset Management, Alvotech secures financing from investors who share the company’s confidence in its ability to execute, and the scale, quality and commercial potential of its biosimilar product pipeline,” said Alvotech.
“Alvotech remains committed to advancing its R&D pipeline, which currently includes 30 products in development and ranks among the most valuable biosimilar portfolios in the industry. In parallel, the company continues to expand its production capacity and strengthen its supply chain to support four new global product launches through 2026.
“The transaction, a senior term loan facility in an aggregate principal amount of USD 100 million, bears an interest rate of 12.50%, payable monthly in cash, and has a maturity date of 2 years.
“The transaction replaces the company’s previously disclosed working capital facility (ABL) and provides Alvotech with access to the full USD 100 million throughout the term of the loan. This structure offers enhanced operational flexibility.
“This term loan facility follows the successful arrangement of a strategic refinancing transaction maturing in June 2029, also led by GoldenTree Asset Management, as announced in June 2024.
“In addition, Alvotech announced in June 2025 the repricing of its existing facility to an interest rate of SOFR plus 6.0% per annum, equivalent to approximately 9.8% based on the 30-day average SOFR rate of ~3.8%
“Further reinforcing its capital structure, Alvotech recently announced the successful placing of USD 108 million senior unsecured convertible bonds due 2030. Together these transactions position the company to maintain its leading position and investment into its biosimilar development pipeline.”
Robert Wessman, Chairman and CEO of Alvotech, said: “This USD 100 million financing underscores the long-term commitment of our financing partners at GoldenTree and their alignment with Alvotech’s strategy.
“Their support strengthens our ability to execute on our growth plans, invest in R&D, and deliver high-quality biosimilars to patients worldwide.”