Catalent tightens $450 million incremental term loan OID to 99.75

By Sara Rosenberg

New York, Sept. 23 – Catalent Inc. revised the original issue discount on its fungible $450 million incremental term loan B to 99.75 from talk in the range of 99 to 99.5, according to a market source.

Pricing on the incremental term loan is Libor plus 200 basis points with a 0.5% Libor floor, in line with existing term loan B pricing.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 10 a.m. ET on Friday, accelerated from noon ET on Friday, the source added.

Proceeds will be used to help fund the acquisition of Bettera Holdings LLC, a Plano, Tex.-based manufacturer of gummy, soft chew and lozenge nutritional supplements, from Highlander Partners LP for $1 billion, subject to customary adjustments.

Closing is expected before the end of the year.

Catalent is a Somerset, N.J.-based provider of development sciences and manufacturing platforms for medicines.

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