Atnahs trims spread on €58 million add-on term loan, repricing

By Sara Rosenberg

New York, Feb. 19 – Atnahs Pharma (Antigua Bidco Ltd.) reduced pricing on its €58 million add-on term loan B due Aug. 7, 2026 and repricing/refinancing of its existing €614 million term loan B due Aug. 7, 2026 to Euribor plus 400 basis points from talk in the range of Euribor plus 425 bps to 450 bps, according to a market source.

Also, the issue price on the term loan debt was revised to par from 99.75, the source said.

The term loan debt still has a 0% floor and 101 soft call protection for six months.

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

Proceeds from the add-on term loan will be used to repay revolving credit facility borrowings.

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

© 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.