Royalty Pharma to launch $700 million term B add-on on Dec. 6

By Sara Rosenberg

New York, Nov. 27 - Royalty Pharma is currently scheduled to launch a $700 million add-on to its term loan B on Dec. 6, according to a market source.

Bank of America is the lead bank on the deal.

Proceeds will be used for acquisition financing.

In connection with the add-on, the company will have to amend its existing credit facility to allow for the new debt and plans on increasing pricing on its existing term loan B.

Royalty Pharma is a New York-based acquirer of revenue-producing intellectual property, principally royalty interests in marketed and late-stage biopharmaceutical products.

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