Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Royalty Pharma > News item |
Royalty Pharma talks $800 million term loan B at Libor plus 225 bps
By Sara Rosenberg
New York, April 30 – Royalty Pharma launched on Tuesday its $800 million seven-year incremental term loan B with price talk of Libor plus 225 basis points with a 0% Libor floor and an original issue discount of 99.5, according to a market source.
Bank of America Merrill Lynch is the left lead on the deal.
Commitments are due at noon ET on May 7, the source said.
Proceeds will be used to fund the potential acquisition of a royalty stream in Keytruda, a medicine that may treat some cancers by working with the immune system.
Other funds for the transaction will come from a $200 million term loan A and cash on hand.
Royalty Pharma is a New York-based acquirer of royalty interests in marketed and late-stage biopharmaceutical products.
© 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.