Cambrex readies launch of $1.26 billion credit facilities for Monday

By Sara Rosenberg

New York, Oct. 30 – Cambrex Corp. is scheduled to hold a bank meeting in New York at 11 a.m. ET on Monday to launch $1.26 billion of senior secured credit facilities, according to a market source.

RBC Capital Markets, Barclays, Societe Generale, UBS Investment Bank and Mizuho are the leads on the deal.

The facilities consist of a $135 million revolver, an $875 million first-lien term loan and a $250 million second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Permira for $60.00 in cash. The transaction is valued at about $2.4 billion.

Other funds for the transaction will come from around $1.382 billion equivalent of equity.

Closing is expected in the fourth quarter, subject to customary conditions, including receipt of approval by Cambrex’s shareholders and regulatory approvals.

Cambrex is an East Rutherford, N.J.-based small molecule company providing drug substance, drug product and analytical services.

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