Axcan to start roadshow Friday for $240 million eight-year senior notes

By Paul A. Harris

St. Louis, Jan. 31 - Axcan Pharma Inc. will start a roadshow on Friday for its $240 million offering of eight-year senior unsecured notes (B3/B-), according to an informed source.

Banc of America Securities LLC is the left lead bookrunner for the Rule 144A with registration rights offer, which is expected to price early in the week of Feb. 11. HSBC and RBC Capital Markets are joint bookrunners.

The notes will come with four years of call protection.

Proceeds will be used to help fund the buyout of Axcan by TPG Capital.

Axcan is a Mont-Saint-Hilaire, Quebec-based specialty pharmaceutical company focused on gastroenterology, with operations in North America and Europe.

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