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Catalent launches USD400m private offering senior unsecured notes.

BANKING AND CREDIT NEWS-November 29, 2016-Catalent launches USD400m private offering senior unsecured notes


Somerset, New Jersey-based Catalent, Inc. (NYSE:CTLT) wholly owned subsidiary, Catalent Pharma Solutions, Inc. (the Catalent Operating Subsidiary) intends to offer USD400 million aggregate principal amount of euro-denominated senior unsecured notes due 2024 in a private offering, the company said.

The Catalent Operating Subsidiary intends to use the net proceeds from the private offering to fund its acquisition of Accucaps Industries Limited.

Additionally, net proceeds will be used to repay a portion of the outstanding borrowings under its senior secured credit facilities, plus any accrued and unpaid interest, to pay related fees and expenses, and to provide cash on its balance sheet for general corporate purposes.

The Catalent Operating Subsidiary also intends, concurrently with the private offering, to launch an effort to amend the credit agreement governing its senior secured credit facilities to reduce the interest rates applicable to the term loans thereunder.

Catalent is a global provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products. The company employs more than 9,500 people, including over 1,400 scientists, at more than 30 facilities across 5 continents.

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Publication:M2 Banking & Credit News (BCN)
Date:Nov 29, 2016
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