Alvogen launches $675 million term loan at Libor plus 500 bps

By Sara Rosenberg

New York, March 17 – Alvogen launched on Tuesday morning its $675 million seven-year senior secured term loan with price talk of Libor plus 500 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Jefferies Finance LLC, Goldman Sachs Bank USA and SunTrust Robinson Humphrey Inc. are the arrangers on the deal.

Commitments are due on March 27, the source added.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Alvogen is a pharmaceutical company that produces generic drugs.

© 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.