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Doc Generici marketing €470 million secured floaters through Thursday
By Paul A. Harris
Portland, Ore., June 11 – Italian pharmaceutical group Doc Generici is marketing a €470 million offering of senior secured floating-rate notes (B2) on a roadshow through Thursday, market sources say.
The issuing entity will be Diocle SpA.
Global coordinator BNP Paribas is the sole physical bookrunner for the Rule 144A and Regulation S offering. UniCredit is also a global coordinator. Credit Agricole CIB is the joint bookrunner.
The notes become callable after one year at 101.
The Milan-based generic drugmaker plans to use the proceeds to refinance debt incurred in the spring when Intermediate Capital Group and Merieux Equity Partners acquired Doc Generici from CVC Capital Partners for €1.1 billion.
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