PharmaZell wraps €290 million term loan B at Euribor plus 450 bps

By Sara Rosenberg

New York, June 19 – PharmaZell allocated a €290 million covenant-lite term loan B (B2//B+) due May 2027 that is priced at Euribor plus 450 basis points with a 0% floor and an original issue discount of 97, according to a market source.

The term loan has 101 call protection for one year, the source said.

HSBC and UniCredit are the bookrunners on the deal. HSBC is the agent.

The transaction was completed within the early bird stage following strong demand and priced in line with talk, the source added.

Proceeds are being used to support the buyout of the company by Bridgepoint from DPE Deutsche Private Equity and Maxburg Capital Partners.

PharmaZell is a Germany-based manufacturer of niche active pharmaceutical ingredients.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.