Auxilium Pharmaceuticals seeks $50 million add-on term B at OID of 98

By Sara Rosenberg

New York, Sept. 17 – Auxilium Pharmaceuticals Inc. is in market with a $50 million add-on term loan B due April 2017 that is talked with an original issue discount of 98, according to a market source.

Pricing on the add-on is Libor plus 500 basis points with a 1.25% Libor floor, in line with existing term loan B pricing and, like the existing loan, the add-on has 101 hard call protection through April 2015.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used for general corporate purposes.

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

Auxilium is a Chesterbrook, Pa.-based specialty biopharmaceutical company.

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