Cambrex to launch $75 million incremental term loan on Tuesday

By Sara Rosenberg

New York, May 2 – Cambrex Corp. is set to hold a lender call at 9 a.m. ET on Tuesday to launch a fungible $75 million incremental first-lien term loan due December 2026, according to a market source.

RBC Capital Markets is the lead on the deal.

Pricing on the incremental term loan is SOFR+10 basis points CSA plus 350 bps with a 0.75% floor, the source said.

Original issue discount talk on the incremental term loan is not yet available.

Proceeds will be used to fund a small acquisition, to repay revolving credit facility drawings and to pay related fees and expenses.

With this transaction, pricing on the company’s existing roughly $917 million first-lien term loan will transition to SOFR+10 bps CSA plus 350 bps with a 0.75% floor from Libor plus 350 bps with a 0.75% Libor floor.

Cambrex is an East Rutherford, N.J.-based small molecule company providing drug substance, drug product and analytical services.

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