ADC restructures debt as Zynlonta struggles to make an impact

Deerfield Management is to take a stake in Swiss-based ADC Therapeutics (NYSE:ADCT), a Lausanne-based antibody-drug conjugate company, as the company restructures its bonds.

ADC closed a new $175 million senior secured term loan with a division of Blue Owl Capital and with funds from Oaktree Capital Management.

Meanwhile, a $115 million debt with Deerfield has been settled in full, through an agreement that includes a…

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