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Royalty Pharma launches $200 million unsecured seven-year fixed-rate term loan via Banc of America Securities
By Paul A. Harris
St. Louis, May 5 - Royalty Pharma will host a Thursday conference call for its $200 million seven-year senior unsecured fixed-rate term loan, according to an informed source.
The deal is being marketed to high-yield accounts.
Pricing is expected early next week.
Banc of America Securities LLC is the lead arranger.
The loan comes with four years of call protection and a 101% change-of-control put.
Proceeds will be used to fund the acquisition of royalty interests.
Royalty Pharma acquires revenue-producing intellectual property - principally royalty interests in marketed and late-stage biopharmaceutical products.
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