Catalent Pharma sets U.S. and euro term loan B talk with launch

By Sara Rosenberg

New York, April 30 - Catalent Pharma Solutions Inc. came out with price talk on its $1.47 billion seven-year first-lien term loan B and $275 million seven-year first-lien euro equivalent term loan B with its call on Wednesday, according to a market source.

Both term loans are talked at Libor/Euribor plus 350 basis points with a 1% floor and an original issue discount of 991/2, the source said.

Also, both term loans have 101 soft call protection for six months.

The company's $1,945,000,000 senior secured credit facility also includes a $200 million five-year revolver.

Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Goldman Sachs Bank USA, Jefferies Finance LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are the bookrunners on the deal.

Proceeds will be used to refinance the company's existing secured credit facility and a portion of its existing unsecured credit facility.

Commitments are due on May 7, the source added.

Catalent is a Somerset, N.J.-based provider of advanced technologies and development, manufacturing and packaging services for pharmaceutical, biotechnology and consumer health care companies.

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