Catalent marketing €450 million eight-year notes; proceeds to take out 4¾% notes due 2024

By Paul A. Harris

Portland, Ore., Feb. 19 – Catalent, Inc. intends to sell €450 million of Catalent Pharma Solutions, Inc. eight-year senior notes (B3/B+) according to market sources.

J.P. Morgan Securities LLC has the lead in the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The issuing entity, the operating subsidiary of Somerset, N.J.-based Catalent, plans to use the proceeds to pay off its euro-denominated 4¾% senior notes due 2024, as well as to provide cash on its balance sheet for general corporate purposes.

Catalent supplies advanced delivery technologies and development solutions for drugs, biologics, cell and gene therapies, and consumer health products.

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