Perrigo to help fund Hera buy with $500 million of unsecured debt

Chicago, March 28 – Perrigo Co. plc said that it will fund its purchase of Hera SAS (HRA Pharma) with $500 million of unsecured debt and $1.6 billion from term loan facilities, according to a press release.

The company is planning a $1 billion five-year revolver, a $300 million five-year term loan A and an $800 million seven-year term loan B facility.

The revolver will initially retain $500 million of undrawn availability and will not be used to fund the acquisition.

The other proceeds from the new debt will be used for the acquisition and also to refinance certain debt of the company and its subsidiaries, including its outstanding term loan facility and outstanding debt securities maturing in 2023.

Perrigo is a Dublin-based provider of self-care products and over-the-counter health and wellness solutions. Hera is a Paris-based consumer self-care company.

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