Curium lifts U.S. loan to $1.07 billion, euro loan to €325 million

By Sara Rosenberg

New York, Aug. 2 – Curium Bidco Sarl upsized its U.S. term loan B due July 2029 to $1.07 billion from $1.066 billion and its euro term loan B due July 2029 to €325 million from €300 million, according to a market source.

Also, pricing on the U.S. term loan was reduced to SOFR plus 450 basis points from SOFR plus 475 bps and the 25 bps step-down at 3.5x senior secured net leverage was removed, and pricing on the euro term loan was lowered to Euribor plus 450 bps from Euribor plus 475 bps, the source said.

Also, the original issue discount on both term loans was tightened to 99 from 98.5.

The U.S. term loan still has a 0% floor and amortization of 1% per annum, the euro term loan still has 25 bps step-downs at 3.5x and 3x senior secured net leverage, a 0% floor and no amortization, and both term loans still have 101 soft call protection for six months.

JPMorgan Chase Bank is the sole physical bookrunner on the U.S. term loan, and Deutsche Bank Securities Inc. is the sole physical bookrunner on the euro term loan. JPMorgan is the administrative agent.

Commitments were scheduled to be due end of day on Wednesday, the source added.

Proceeds will be used to amend and extend an existing $478 million term loan due July 2026, an existing $590 million term loan due December 2027 and an existing €300 million term loan due July 2026, and to pay transaction fees and expenses.

Curium is a nuclear medicine company with headquarters in London and Paris.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.