Catalent launches $933 million term loan at Libor plus 200-225 bps

By Sara Rosenberg

New York, Feb. 3 – Catalent Pharma Solutions Inc. held a lender call at 11 a.m. ET on Wednesday to launch a $933 million term loan due May 2026 that is talked at Libor plus 200 basis points to 225 bps with a 0.5% Libor floor and a par issue price, according to a market source.

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

J.P. Morgan Securities LLC, Barclays, BofA Securities Inc., RBC Capital Markets, Mizuho, Goldman Sachs Bank USA and Wells Fargo Securities LLC are the leads on the deal.

Commitments are due at noon ET on Wednesday, the source added.

Proceeds will be used to reprice an existing term loan from Libor plus 225 bps with a 1% Libor floor.

Catalent is a Somerset, N.J.-based provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products.

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