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Auxilium tightens discount on $50 million add-on term B to 98½
By Sara Rosenberg
New York, Sept. 18 – Auxilium Pharmaceuticals Inc. revised the original issue discount on its $50 million add-on term loan B due April 2017 to 98½ from 98, according to a market source.
Pricing on the add-on is Libor plus 500 basis points with a 1.25% Libor floor, in line with existing term loan B pricing, and, like the existing loan, the add-on has 101 hard call protection through April 2015.
Morgan Stanley Senior Funding Inc. is the lead bank on the deal.
Proceeds will be used for general corporate purposes.
Auxilium is a Chesterbrook, Pa.-based specialty biopharmaceutical company.
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