BX · News · 20261103N

Private Credit Financing

Blackstone Inc. · 2026-11-03 · Importance 20 · Surprise 24

Rhythm Pharmaceuticals secured a five-year, $750 million term-loan facility led by KKR’s HealthCare Royalty and Blackstone. The facility is intended to support Rhythm’s amended exclusive license agreement for bivamelagon. Under the amendment, Rhythm will make $350 million in additional fixed payments over four years and pay a simplified 1% royalty on global net sales of its MC4R portfolio.