Nycomed A/S to price €400 million 8.5-year PIK notes Monday

By Paul A. Harris

St. Louis, March 11 - Nycomed A/S plans to price €400 million of 8.5-year senior pay-in-kind notes Monday afternoon in London, according to market sources.

The bonds are expected to price at 99.00 with an 11½% indicative coupon.

Credit Suisse First Boston and Goldman Sachs & Co. have the books for the Rule 144A/Regulation S offering, which has no registration rights.

Proceeds will be used to help fund the acquisition of Nycomed. Nordic Capital Fund V has agreed to acquire a controlling interest in Nycomed from a group of investors led by DLJ Merchant Banking.

Nycomed is a Roskilde, Denmark-based company that develops, manufactures and markets specialist and prescription pharmaceuticals and consumer health products.

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