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LPC-Novacap to raise €225m add-on loan for acquisitions
July 4, 2017 / 3:31 PM / 5 months ago

LPC-Novacap to raise €225m add-on loan for acquisitions

LONDON, July 4 (Reuters) - French pharmaceutical and chemicals group Novacap is set to raise a €225m add-on term loan to back acquisitions, banking sources said.

BNP Paribas, ING and Societe Generale are leading the financing, which is scheduled to be shown to lenders at a bank meeting on Wednesday in London, when more details will emerge, the sources said.

Lyon-headquartered Novacap raised a €435m term loan B in May 2016 to back its buyout by Eurazeo.

That loan repriced in November, cutting 75bp from the margin to 425bp over Euribor, at the tight end of initial guidance of 425bp-450bp with a 0% floor, according to Thomson Reuters LPC data.

Eurazeo was not immediately available to comment.

Novacap, produces and distributes pharmaceutical ingredients and essential chemicals products such as aspirin and salicylic acid. (Editing by Christopher Mangham)

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