Wedgewood cuts spread on $220 million term loan to Libor plus 450 bps

By Sara Rosenberg

New York, Feb. 24 – Wedgewood Pharmacy trimmed pricing on its $220 million term loan B (B3/B-) to Libor plus 450 basis points from talk in the range of Libor plus 475 bps to 500 bps, according to a market source.

The term loan still has a 0.75% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Macquarie Capital (USA) Inc. and Natixis are the leads on the deal.

Proceeds will be used to help fund the buyout of the company by Partners Group.

Wedgewood Pharmacy is a compounding pharmacy devoted to animal health.

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