Zentiva readies launch of €1.83 billion term loan B for Wednesday

By Sara Rosenberg

New York, Feb. 5 – Zentiva (AI Sirona (Luxembourg) Acquisition Sarl) is scheduled to hold a lender call at 6 a.m. ET on Wednesday to launch a €1.825 billion first-lien term loan B due September 2028, according to a market source.

Barclays, Goldman Sachs and Morgan Stanley are the physical bookrunners on the deal. BNP Paribas, Credit Agricole, ING, JPMorgan Chase Bank, NatWest, RBI and UBS Investment Bank are passive bookrunners. JPMorgan is the administrative agent.

Price talk on the term loan is Euribor plus 425 basis points to 450 bps with a 0% floor and an original issue discount of 99.75 to par, the source said.

The term loan has 101 soft call protection for six months.

Expected term loan ratings are B3/B.

Commitments are due at 6 a.m. ET on Feb. 14, the source added.

Proceeds will be used to reprice an existing term loan B down from Euribor plus 500 bps with a 0% floor.

Advent is the sponsor.

Zentiva is a pan European pharmaceuticals company focused on developing, manufacturing and marketing a wide range of generics, specialty and over-the-counter products.

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