Catalent lifts term loan to $1 billion, firms at Libor plus 200 bps

By Sara Rosenberg

New York, Feb. 10 – Catalent Pharma Solutions Inc. upsized its term loan to $1 billion from $933 million and firmed pricing at Libor plus 200 basis points, the low end of the Libor plus 200 bps to 225 bps talk, according to a market source.

Also, the term loan now has a seven-year maturity instead of being due May 2026, the source said.

The term loan still has a 0.5% Libor floor, a par issue price and 101 soft call protection for six months.

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.

Proceeds will be used to reprice, and now extend, an existing term loan due May 2026 that is priced at 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.