Catalent to launch $450 million incremental term loan on Monday

By Sara Rosenberg

New York, Sept. 17 – Catalent Inc. will hold a lender call at 11:30 a.m. ET on Monday to launch a fungible $450 million incremental term loan B, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Pricing on the incremental term loan is Libor plus 200 basis points with a 0.5% Libor floor, in line with existing term loan B pricing.

The incremental term loan is talked with an original issue discount of 99 to 99.5, the source said.

Commitments are due at noon ET on Sept. 24.

Proceeds will be used to help fund the acquisition of Bettera Holdings LLC, a Plano, Tex.-based manufacturer of gummy, soft chew and lozenge nutritional supplements, from Highlander Partners LP for $1 billion, subject to customary adjustments.

Closing is expected before the end of the year.

Catalent is a Somerset, N.J.-based provider of development sciences and manufacturing platforms for medicines.

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