Wedgewood launches $220 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, Feb. 10 – Wedgewood Pharmacy held a lender call on Wednesday to launch a $220 million term loan B (B3/B-) with price talk of Libor plus 475 basis points to 500 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Macquarie Capital (USA) Inc. and Natixis are the leads on the deal.

Commitments are due on Feb. 24, the source added.

Proceeds will be used to help fund the buyout of the company by Partners Group.

Wedgewood Pharmacy is a compounding pharmacy devoted to animal health.

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