LONDON, Sept 16 (Reuters) – BC Partner’s German pharma company Aenova has successfully raised a new 130 million euro ($172.37 million) leveraged loan to back its planned acquisition of contract development and manufacturing firm Haupt Pharma, banking sources said on Monday.
IKB, JP Morgan and UBS are joint bookrunners on the financing, which has been raised from Aenova’s existing lenders.
Earlier this month 100 percent of Aenova’s lenders gave consent for the new loan facility and for an acquisition of Haupt to take place, banking sources said.
The acquisition of Haupt is due to complete by the end of the year, banking sources added.
BC Partners declined to comment and Haupt was not immediately available to comment.
The new term loan pays 500 basis points (bps) over Euribor and will allocate on Europe’s secondary loan market this week, with a 99.5 original issue discount (OID), tighter than initial OID guidance of 99, after strong support for the deal, banking sources said.
This is the second add-on facility for Aenova which raised an extra 57 million euros last November to back its acquisition of pharma company Temmler Group.
BC Partners acquired Aenova last year from Bridgepoint in a deal that valued the company at around 500 million euros. The deal was backed by 230 million euros of senior loans, underwritten by JP Morgan, which was then joined by SEB, Mizuho, Raiffeisen, DZ Bank and UniCredit.
Haupt Pharma has nine sites in Germany, Italy, France and Japan and a representative office in the U.S. Its customers include more than 200 pharmaceutical companies that outsource the production of pharmaceuticals, veterinary medicinal products, dietary supplements, cosmetics and specialty products, according to its website.
Aenova raises 130 mln euros for Haupt Pharma buyout
