Cooper Consumer Health announces new €1.11 billion term loan

Chicago, Oct. 30 – Cooper Consumer Health (formerly Care Bidco SAS) is marketing a new €1.105 billion senior secured covenant-lite term loan, according to market sources.

The loan is being talked at Euribor plus 475 basis points to 500 bps, with a 0% floor.

Price talk is for a discount of 98.

The loan will mature in November 2028, aligning with the company’s existing term loan B.

A lender call will be held on Tuesday. Commitments will be due on Nov. 9, with allocations expected thereafter.

BNP Paribas, Credit Agricole CIB, HSBC and Nomura are the joint physical bookrunners.

Passive bookrunners include Citigroup, KCM, Mizuho and NatWest.

BNP Paribas will be the administrative agent.

Proceeds will be used to fund the acquisition of the European over-the-counter business from Viatris.

Expected issue ratings are B2/B/B+.

The prospective borrower is a Paris-based provider of non-prescription medicines, food supplements and medical devices. The company was established in 2016 by private equity firm Charterhouse Capital Partners.

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