Advanz Pharma plans €150 million tap of 5% secured notes due 2028

Chicago, Jan. 18 – Advanz Pharma Corp. Ltd. is planning a €150 million tap of its 5% senior secured notes due April 1, 2028 (B-/B+), according to a notice.

The original issue was one part of a two-part $1.02 billion equivalent deal sold in March 2021.

The notes will be sold via Cidron Aida Finco Sarl.

Morgan Stanley & Co. International plc is the stabilization manager.

Proceeds, according to Fitch Ratings, will be used for general corporate purposes and to support the company’s acquisition strategy.

Listing will be on The International Stock Exchange.

Advanz Pharma is a London-based pharmaceutical company formerly known as Concordia Healthcare.

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