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Alvogen revises OID on $55 million incremental term loan to 98.9376
By Sara Rosenberg
New York, April 5 – Alvogen tightened the original issue discount on its fungible $55 million incremental first-lien term loan to 98.9376 from 98.5, according to a market source.
Pricing on the incremental loan is Libor plus 500 basis points with a 1% Libor floor, in line with existing term loan pricing.
All of the first-lien term loan debt is getting 101 soft call protection for six months.
Jefferies Finance LLC is the lead on the deal.
Proceeds will be used for general corporate purposes and to potentially fund a portion of the acquisition of County Line Pharmaceuticals, a Wisconsin-based specialty generic pharmaceutical company.
The acquisition is expected to provide annual revenues of more than $100 million per year.
Alvogen is a generic pharmaceutical company.
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