Royalty Pharma to launch $1.5 billion term loan B-4 on Monday

By Sara Rosenberg

New York, Nov. 25 – Royalty Pharma will hold a bank meeting on Monday to launch a $1.5 billion term loan B-4, according to a market source.

Bank of America Merrill Lynch, Goldman Sachs Bank USA and J.P. Morgan Securities LLC are the lead banks on the deal.

Proceeds will be used to repay short-term debt that was used to fund the acquisition of royalties on Vertex Pharmaceuticals’ cystic fibrosis treatments owned by Cystic Fibrosis Foundation Therapeutics.

The acquisition cost was $3.3 billion in cash.

Royalty Pharma is a New York-based acquirer of royalty interests in marketed and late-stage biopharmaceutical products.

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