Moderna Secures $1.5 Billion Five-Year Credit Facility from Ares Management

Core Viewpoint - Moderna, Inc. has secured a five-year term loan facility of up to $1.5 billion from Ares Management, enhancing its financial flexibility while maintaining a strong balance sheet [1] Group 1: Financing Details - The financing is structured as non-dilutive debt, consisting of three tranches over five years [1] - The initial tranche includes a $600 million term loan funded at closing [1] - A $400 million delayed draw term loan facility (DDTL) is available for multiple draws at Moderna's discretion through November 2027 [1] - An additional $500 million DDTL is also available for multiple draws at Moderna's discretion through November 2028 [1] Group 2: Financial Guidance - The company has reiterated its financial guidance for 2025, as provided during the 3Q25 earnings call [1] - Moderna is targeting cash breakeven by 2028 [1]