UCB signs $800 million term loan for Zogenix acquisition

Chicago, Feb. 1 – UCB entered into an $800 million five-year term loan on Jan. 19 with BNP Paribas Fortis SA/NA as agent, according to multiple filings with the Securities and Exchange Commission.

The facility can be converted to euros from U.S. dollars at the borrower’s election.

Interest for dollar loans is SOFR plus a margin between 80 basis points and 150 bps. For euro loans, interest would be Euribor plus 55 bps to 125 bps.

There is a ticking fee after the first 90 days at 15 bps and after 181 days at 35 bps.

BNP Paribas Fortis SA/NV and Barclays were the arrangers.

Proceeds will be used for UCB’s planned acquisition of Zogenix in a transaction valued at about $1.9 billion.

Other funds for the transaction will come from available cash sources.

Lazard and Barclays were acting as financial advisers to UCB in relation to the transaction. BofA Securities and SVB Leerink were acting as financial advisers to Zogenix.

UCB is a Brussels-based biopharmaceutical company. Zogenix is an Emeryville, Calif.-based biopharmaceutical company commercializing and developing therapies for rare diseases.

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