Sucampo plans $250 million term loan for R-Tech Ueno purchase

By Sara Rosenberg

New York, Aug. 26 – Sucampo Pharmaceuticals Inc. has received a commitment for a $250 million six-year senior secured term loan to help fund its acquisition of R-Tech Ueno, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Jefferies Finance LLC is the bookrunner and lead arranger on the debt.

Other funds for the transaction will come from cash on hand.

Under the agreement, R-Tech Ueno is being bought for ¥33 billion, or about $278 million, inclusive of around $54 million in cash and 2.5 million Sucampo shares, held by R-Tech Ueno.

A tender offer for the R-Tech Ueno’s shares will be conducted in Japan under a tender offer registration statement filed with the Kanto Local Finance Bureau in accordance with applicable Japanese law.

The tender offer period is expected to end on Oct. 13, and closing on the acquisition is anticipated to occur in the fourth quarter, subject to the minimum acceptance threshold in the tender offer, regulatory approvals and other customary conditions.

Sucampo is a Bethesda, Md.-based pharmaceutical company. R-Tech Ueno is a Japan-based pharmaceutical company.

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