Royalty Pharma withdraws $800 million term loan B from market

By Sara Rosenberg

New York, May 13 – Royalty Pharma pulled its $800 million seven-year incremental term loan B (Baa3/BBB-/BBB-) from market as the potential acquisition of a royalty stream in Keytruda is not occurring, according to a market source.

Talk on the term loan B had been Libor plus 225 basis points with a 0% Libor floor and an original issue discount of 99.5.

Bank of America Merrill Lynch was the left lead on the deal.

Royalty Pharma is a New York-based acquirer of royalty interests in marketed and late-stage biopharmaceutical products.

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