By Devika Patel
Knoxville, Tenn., Nov. 17 – Procaps Group settled a private offering of $115 million of 4¾% 10-year senior notes, which were issued by subsidiary Procaps, SA on Nov. 12, according to a 6-K filed with the Securities and Exchange Commission.
The notes were expected to settle in October, the company said when it announced the deal in a Sept. 9 press release.
The private placement is led by Prudential Private Capital and will be made to entities including one or more investment funds or managed accounts of PGIM Inc. and Cigna Investment Inc.
Proceeds will be used to repay debt and for general corporate purposes.
Amortization will start on the sixth anniversary of closing.
Barranquilla, Colombia-based Procaps Group is a developer of pharmaceutical and nutraceutical solutions, medicines and hospital supplies.
| Issuer: | Procaps, SA
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| Issue: | Senior notes
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| Amount: | $115 million
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| Tenor: | 10 years with amortization after six years
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| Coupon: | 4¾%
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| Settlement date: | Nov. 12
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| Distribution: | Private placement
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