DPx Holdings launches $250 million term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Sept. 5 – DPx Holdings BV launched on Friday a $250 million seven-year first-lien term loan with price talk of Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 98 to 98¼, according to a market source.

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

UBS Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and KeyBank are the bookrunners on the deal.

Commitments are due on Sept. 12, the source added.

Proceeds will be used to fund the acquisition of Gallus BioPharmaceuticals LLC from Ridgemont Equity Partners.

Closing is expected in the fourth quarter, subject to receipt of regulatory approvals.

DPx, owned by JLL Partners and Royal DSM, is a Durham, N.C.-based provider of CDMO services, pharmaceutical products and products for other industries. Gallus is a St. Louis-based contract manufacturing company specializing in biologics.

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