Shire secures $5.6 billion term loan facility for Dyax acquisition

By Wendy Van Sickle

Columbus, Ohio, Nov. 2 – Shire plc has secured a $5.6 billion fully underwritten term loan facility for use in its acquisition of Dyax Corp., according to a Monday press release.

Shire also has $2.1 billion undrawn under its revolving credit facility that it may use in its purchase of Dyax for a total upfront consideration of about $5.9 billion. Deutsche Bank and Morgan Stanley are providing financing for the transaction.

The acquisition has been approved by both companies’ boards of directors and is expected to close in the first half of 2016.

Shire is a biopharmaceutical company based in Dublin with a registered office in St. Helier, Jersey. Dyax is a pharmaceutical company based in Cambridge, Mass.

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