SGD Pharma to launch €590 million credit facilities on Tuesday

By Sara Rosenberg

New York, July 16 – SGD Pharma (Silica Bidco) is scheduled to hold a lender call at 5 a.m. ET on Tuesday to launch €590 million of credit facilities, according to a market source.

Bank of America and Citigroup are the physical bookrunners on the deal. Barclays, BNP Paribas, Intesa and Mizuho are bookrunners.

The facilities consist of a €90 million 6.5-year revolver and a €500 million seven-year term loan B, the source said.

Expected facilities ratings are B2/B.

Commitments are due at 5 a.m. ET on July 30, the source added.

Proceeds will be used to help fund the buyout of the company by PAI Partners, refinance existing debt and pay related fees and expenses.

SGD Pharma is a France-based manufacturer of primary glass packaging for the pharmaceutical industry.

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