Royalty Pharma launches $1.4 billion term loan

By Sara Rosenberg

New York, April 24 - Royalty Pharma held a bank meeting on Tuesday morning to launch its proposed $1.4 billion senior secured term loan (BB+), according to a market source.

Bank of America is the lead bank on the deal.

The term loan is being talked at Libor plus 150 basis points, the source said.

Proceeds will be used to refinance existing debt and to fund the acquisition of royalty streams.

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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