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Mallinckrodt to launch $500 million term loan B with call on Monday
New York, Jan. 26 – Mallinckrodt plc will launch a $500 million term loan B with a lender call at 1:30 p.m. ET on Monday, according to a market source.
The loan, to be due Feb. 24, 2025, will be used to finance the acquisition of Sucampo Pharmaceuticals, Inc., to refinance some of Sucampo’s debt, to pay transaction costs and for general corporate purposes.
The loan will include 101 soft call protection for six months and amortize by 1% per year.
Mallinckrodt International Finance SA and Mallinckrodt CB LLC will be the borrowers.
Deutsche Bank, Barclays and Citigroup are joint lead arrangers and joint bookrunners for the financing. Deutsche Bank AG, New York Branch is administrative agent. Credit Suisse, Goldman Sachs, Morgan Stanley, Wells Fargo, Mizuho and PNC are co-managers.
Commitments are due by Feb. 6.
Mallinckrodt is a Dublin-based pharmaceutical company with U.S. headquarters in St. Louis.
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