Atnahs Pharma revises €260 million add-on term B issue price to par

By Sara Rosenberg

New York, Feb. 24 – Atnahs Pharma UK Ltd. (Antigua Bidco Ltd.) tightened the issue price on its fungible €260 million add-on covenant-lite term loan B due Aug. 7, 2026 to par from 99, according to a market source.

Pricing on the add-on term loan is Euribor plus 500 basis points with a 0% floor.

Barclays, Credit Suisse and HSBC are the physical bookrunners on the deal. KKR Capital Markets, Investec, MUFG and NatWest Markets are bookrunners.

Commitments were scheduled to be due at noon ET on Monday, the source said.

Proceeds will be used to fund the acquisition of a product portfolio from AstraZeneca and a single product from a large pharma company, and to pay related fees and expenses.

Including the add-on, the term loan will total €614 million.

Atnahs Pharma is a Basildon, U.K., specialty pharmaceutical business focused on the acquisition, development and marketing of mature branded medicines.

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