Catalent to repay term loan borrowings with proceeds from new notes

By Sarah Lizee

Olympia, Wash., June 24 – Catalent, Inc. wholly owned subsidiary Catalent Pharma Solutions, Inc. plans to repay in full the outstanding borrowings under its secured term loans due 2024 using proceeds from a new offering of notes, according to a press release.

The company announced Monday that it plans to offer $500 million of senior notes due 2027.

Proceeds from the new notes will also be used to provide cash on the balance sheet and for general corporate purposes.

Catalent is a Somerset, N.J.-based provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products.

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