Indivior trims pricing on $394.9 million and €76.3 million term loans

By Sara Rosenberg

New York, Dec. 12 – Indivior Finance lowered pricing on its $394,919,400 term loan B due December 2022 and €76,277,245 term loan B due December 2022 to Libor/Euribor plus 450 basis points from talk in the range of Libor/Euribor plus 475 bps to 500 bps, according to a market source.

The term loans still have an original issue discount of 99.5 and 101 soft call protection for six months, the U.S. loan still has a 1% Libor floor and the euro loan still has a 0% floor.

The company’s senior secured credit facilities also include a $50 million revolver.

Morgan Stanley Senior Funding Inc. and J.P. Morgan Chase Bank are the joint lead arrangers and bookrunners on the deal.

Commitments are due at 5 p.m. ET on Wednesday, accelerated from 10 a.m. ET on Friday, the source added.

Proceeds will be used to refinance the company’s existing senior secured debt facilities.

Indivior is a Richmond, Va.-based specialty pharmaceutical company.

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