Italy-based Kedrion selling €410 million five-year secured notes

By Paul A. Harris

Portland, Ore., April 27 – Kedrion SpA is in the market with a €410 million offering of five-year senior secured notes (B1/B), according to market sources.

Global coordinator and bookrunner JPMorgan will bill and deliver. BNP Paribas is also a global coordinator and bookrunner. Credit Agricole CIB, Banca IMI, Mediobanca, Natixis, and UniCredit are also bookrunners.

The Rule 144A and Regulation S notes come with two years of call protection.

The biopharmaceutical company, which is based in Lucca, Italy, plans to use the proceeds to repay debt, to put cash on its balance sheet and for general corporate purposes.

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