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PharmaZell prices €305 million of term debt at Euribor plus 400 bps
By Sara Rosenberg
New York, April 14 – PharmaZell wrapped syndication of a €15 million add-on term loan B and a repricing of its existing €290 million term loan B at pricing of Euribor plus 400 basis points with a 0% floor and a par issue price, according to a market source.
HSBC is the agent on the deal.
The add-on term loan will be used to repay revolving credit facility borrowings and add cash to the balance sheet, and the repricing will take the existing term loan B down from Euribor plus 450 bps with a 0% floor.
Bridgepoint is the sponsor.
PharmaZell is a Germany-based manufacturer of niche active pharmaceutical ingredients.
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