Coherus BioSciences, Inc. (NasdaqGM:CHRS) announced that it has entered into a senior secured credit facility agreement with returning lender HealthCare Royalty Partners for gross proceeds of $75 million on January 7, 2019. The credit facility bears an interest quarterly at a rate of 3–month LIBOR plus 7% per annum and will mature on January 7, 2025. If the consolidated net sales for UDENYCA™, the company’s pegfilgrastim (Neulasta®) biosimilar, for the fiscal year ending December 31, 2019, are in excess of $250,000,000, then the interest rate will be reduced as of January 1, 2020 to 6.75% per annum plus LIBOR. Interest is payable quarterly in arrears. In connection with the transaction, the company paid a closing fee to the lender of $1,125,000. Upon the prepayment or repayment of the loan facility, the company is required to pay an additional exit fee in an amount equal to 4.00% of the total principal amount of the loan.