Theratechnologies secures US$15M second ranking secured subordinated term loan from Investissement Québec

On November 27, 2024, Investissement Québec ("IQ"), the largest shareholder of Theratechnologies, agreed to provide a US$15 million second-ranking secured subordinated term loan (IQ Subordinated Loan) to Theratechnologies. The net proceeds from this loan, along with other funds, will be used to repay all obligations, including prepayment penalties under the existing facility with affiliates of Marathon Asset Management, L.P., and to support business development activities.

Theratechnologies Inc., based in Montreal, Quebec, is a biopharmaceutical company focused on developing and commercializing innovative therapies to address unmet medical needs.

McCarthy Tétrault advised IQ with a team led by Richard O'Doherty (Banking & Financial Services) that included Étienne Guertin, Mathilde Melançon-Brais, Alexandre Desmarais (Business), and Ruo Lan Wang (Articling Student).