Theramex launches €240 million add-on term loan B at 99.75-par OID

By Sara Rosenberg

New York, Sept. 26 – Theramex (Stars UK Bidco Ltd.) launched on its lender call on Tuesday its fungible €240 million add-on covenant-lite term loan B due August 2029 with original issue discount talk of 99.75 to par, according to a market source.

Pricing on the add-on term loan is Euribor plus 525 basis points with a 0% floor, in line with existing term loan B pricing.

Expected term loan ratings are B2/B.

HSBC, Jefferies LLC and Mizuho are the joint physical bookrunners on the deal. Kroll is the agent.

Commitments are due at 7 a.m. ET on Oct. 3.

Proceeds will be used to fund two bolt-on drug acquisitions and support associated costs.

Pro forma for the transaction, the term loan B will total €790 million.

Carlyle and PAI Partners are the sponsors.

Theramex is a London-based specialty pharmaceutical company focused on women’s health.

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