Mallinckrodt gets $1.4 billion unsecured bridge loan for Ikaria buyout

By Susanna Moon

Chicago, March 5 – Mallinckrodt plc subsidiary Mallinckrodt International Finance SA lined up a $1.4 billion unsecured bridge loan facility from Goldman Sachs Bank USA, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into a commitment letter for the financing to fund its acquisition of Ikaria, Inc. for about $2.3 billion in cash.

The purchase price and the refinancing of Ikaria’s debt will be funded with debt and cash on the company’s and its subsidiaries’ balance sheets.

Mallinckrodt is a Dublin-based pharmaceutical company. Ikaria is a Hampton, N.J.-based provider of proprietary and innovative therapies for the critical care units in hospitals.

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