Amneal Pharmaceuticals discloses talk on $565 million credit facility

By Sara Rosenberg

New York, Oct. 4 - Amneal Pharmaceuticals LLC released talk on its $565 million credit facility, according to a market source.

The $90 million five-year ABL revolver is talked at Libor plus 250 basis points with no Libor floor, and the $475 million bifurcated six-year covenant-light term loan B is talked at Libor plus 400 bps to 425 bps with a 1% Libor floor and an original issue discount of 99, the source said.

The B loan has 101 soft call protection for six months.

GE Capital Markets and RBS are the lead banks on the deal that launched with a bank meeting on Thursday afternoon.

Proceeds will be used to refinance existing debt and fund a dividend.

Amneal Pharmaceuticals is a Bridgewater, N.J.-based manufacturer of generic pharmaceuticals.

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