Perrigo Amends Credit Agreement, Extends Revolving Facility Maturity
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Perrigo Company ( (PRGO) ) just unveiled an announcement.
On March 20, 2026, Perrigo Company entered into an Amended and Restated Credit Agreement with a syndicate of lenders led by JPMorgan, replacing its April 20, 2022 facility and extending the maturity of its $1.0 billion revolving credit facility to March 20, 2031 while keeping the $972.4 million Term Loan B due April 20, 2029 unchanged. The company used a draw on the new revolver to fully prepay its Term A loans and associated costs, eliminated the credit spread adjustment on revolver borrowings, and maintained a structure of secured, guaranteed obligations subject to customary covenants, leverage and interest coverage tests, and standard event-of-default provisions, tightening its capital structure and providing longer-term liquidity under largely market-standard terms.
The senior secured credit facilities will continue to be incurred by Perrigo Investments and guaranteed by Perrigo and certain wholly owned subsidiaries, secured by substantially all tangible and intangible assets of the loan parties and, subject to conditions, equity interests in their subsidiaries. The maturity of the revolving facility is subject to a springing earlier maturity tied to the remaining Term Loan B and 4.900% Senior Notes due 2030, reinforcing incentives to refinance or reduce those balances, while financial institutions involved may continue to provide broader banking and advisory services to the company in the ordinary course of business.
The most recent analyst rating on (PRGO) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Perrigo Company stock, see the PRGO Stock Forecast page.
Spark’s Take on PRGO Stock
According to Spark, TipRanks’ AI Analyst, PRGO is a Neutral.
The score is held back primarily by weak financial performance (declining revenue and a severe 2025 loss) and a technically bearish price trend. Offsetting factors include improved balance-sheet leverage, continued positive cash generation, a high dividend yield, and earnings-call initiatives targeting cost savings and a second-half 2026 recovery—tempered by cautious guidance and potential further impairments.
To see Spark’s full report on PRGO stock, click here.
More about Perrigo Company
Perrigo Company plc is a Ireland-based public limited company that operates through subsidiaries including Perrigo Investments, LLC, and finances its activities via senior secured credit facilities and notes in the institutional lending markets. Its capital structure relies on revolving credit facilities, term loans, and senior notes arranged with major global banks and financial institutions.
Average Trading Volume: 3,079,900
Technical Sentiment Signal: Sell
Current Market Cap: $1.27B
See more insights into PRGO stock on TipRanks’ Stock Analysis page.
