Amneal Pharmaceuticals to launch $2.54 billion term loan on Wednesday

By Sara Rosenberg

New York, Oct. 24 – Amneal Pharmaceuticals is set to hold a lender call at 1 p.m. ET on Wednesday to launch a $2.544 billion term loan B (B) due 2028, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Price talk on the term loan is SOFR plus 525 basis points with a 0.5% floor and an original issue discount of 96, the source said.

The term loan has 102 hard call protection in year one and 101 soft call protection in year two.

Commitments are due at 5 p.m. ET on Nov. 1, the source added.

Proceeds will be used to amend and extend an existing $2.544 billion term loan due May 2025 that is priced at SOFR+CSA plus 350 bps. CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Amneal is a Bridgewater, N.J.-based generic pharmaceutical manufacturer.

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