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Get filing alertsTG Therapeutics refinances with $750M term loan due 2031, repays existing debt
Filed March 20, 2026 · Period ending March 18, 2026 · ~1 min read
Key Changes
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Company closed $750M term loan facility on March 18, 2026, using proceeds to fully repay prior term loans. Also established uncommitted up to $250M additional borrowing capacity for future needs.
Item 1.01 verify on EDGAR → -
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New loan matures March 2031 with interest at SOFR+4.75% (or base rate+3.75%), with 25 basis point rate reduction available if company hits leverage ratio target.
Item 1.01 verify on EDGAR → -
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Quarterly principal payments of $37.5M begin in Q1 2030, but can be deferred to maturity if company maintains low leverage ratio, providing financial flexibility.
Item 1.01 verify on EDGAR → -
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Loan secured by substantially all company assets and includes standard covenants, limiting flexibility to use assets for other purposes but providing lender protection.
Item 1.01 verify on EDGAR →
Summary
TG Therapeutics completed a debt refinancing on March 18, 2026, replacing its existing term loans with a new $750 million facility maturing in 2031. The company borrowed the full amount immediately and used proceeds to pay off prior debt. Interest starts at SOFR plus 4.75%, with a potential 25 basis point reduction if the company improves its leverage ratio. The loan is secured by substantially all company assets.
For retail investors, this refinancing extends the company's debt maturity by five years, providing breathing room and reducing near-term refinancing risk. The structure includes favorable terms: no principal payments until 2030, and even those can be deferred if leverage stays low. The company also secured an additional up to $250 million uncommitted facility for future flexibility.
However, the loan ties up company assets as collateral. Watch the company's quarterly leverage ratio disclosures. If TG Therapeutics hits the threshold for the rate step-down and payment deferrals, it signals strong cash generation and reduces interest expense—a positive for profitability.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
TG Therapeutics refinanced debt with a new $750M term loan due 2031, repaying prior loans, with interest starting at SOFR+4.75%.
Added in current filing · verify on EDGAR →
The 2026 Term Loan will mature on March 18, 2031 (the “Term Loan Maturity Date”). The 2026 Term Loan accrues interest at a per annum rate of interest equal to an applicable margin plus, at the Borrower’s option, either (a) a base rate determined by reference to the highest of (1) the prime rate published by the Wall Street Journal, (2) the federal funds effective rate plus 0.50% per annum, (3) Term SOFR plus 1.00% per annum and (4) 2.00% per annum or (b) Term SOFR, which shall be no less than 1.00% per annum.
The new term loan has a five-year maturity extending to March 18, 2031. Interest accrues at a variable rate based on either a base rate or Term SOFR (with a 1.00% floor), plus an applicable margin determined by the company's leverage ratio.
Added in current filing · verify on EDGAR →
The 2026 Term Loan requires scheduled quarterly amortization payments, commencing with the fiscal quarter ending March 31, 2030, in an amount equal to $37.5 million, with the balance due and payable on the Term Loan Maturity Date; provided that such amortization payments may be deferred to the Term Loan Maturity Date upon the achievement of a Total Net Leverage Ratio that is less than or equal to an agreed threshold.
The loan requires quarterly principal payments of $37.5 million starting in Q1 2030, with the remaining balance due at maturity in 2031. However, these amortization payments can be deferred to maturity if the company maintains a leverage ratio below an agreed threshold, providing financial flexibility.
Event · Item 2.03 — Creation of a Direct Financial Obligation
TG Therapeutics created a direct financial obligation or off-balance sheet arrangement, with details cross-referenced to Item 1.01.
Added in current filing · verify on EDGAR →
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
The company disclosed the creation of a direct financial obligation or an off-balance sheet arrangement. The specific details of this obligation are contained in Item 1.01 of the same 8-K filing, which is not included in the provided text. This typically indicates new debt, credit facility, lease obligation, or similar financial commitment.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify