Chicago, Jan. 31 – Advanz Pharma Corp. Ltd. issued an upsized €175 million offering of 5% senior secured notes due 2028 (B-/B+), according to a press release and a regulatory notice.
The original discount on the Rule 144A and Regulation S issue was 99.375 and the offer was upsized from €150 million.
The notes are being issued under the indenture from April 1, 2021 for €475 million senior secured notes due 2023 and £335 million 6¼% senior secured notes due 2028.
The notes are being sold by issuer Cidron Aida Finco Sarl.
Morgan Stanley & Co. International plc is the stabilization manager.
Proceeds will be used for general corporate purposes and to support the company’s acquisition strategy.
Listing will be on The International Stock Exchange.
Advanz Pharma is a London-based pharmaceutical company formerly known as Concordia Healthcare.
| Issuer: | Cidron Aida Finco Sarl
|
| Amount: | €175 million
|
| Issue: | Senior secured notes
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| Maturity: | 2028
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| Bookrunner: | Morgan Stanley & Co. International plc
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| Coupon: | 5%
|
| Price: | 99.375
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| Trade date: | Jan. 19
|
| Settlement date: | Jan. 26
|
| Ratings: | S&P: B-
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| ISINs: | XS2325699994, XS2325700081
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