Jazz Pharma reported to be seeking $757.2m to refinance debt

Advisors for Dublin-based niche drug business hold meeting in New York today

Dublin-based Jazz Pharmaceuticals is seeking $757.2 million in loans to refinance debt, according to a person with knowledge of the transaction.

Barclays, Citigroup and JPMorgan Chase are arranging the financing for the company and will host a meeting at 2pm today in New York, according to a source close to the deal.

The deal includes a $457.2 million term portion due in June 2018 and a $100 million credit line due in June 2017, the source said.

The company is seeking to take on an additional $100 million of each portion of the debt, which was obtained last year to support Jazz Pharmaceutical's acquisition of Eusa Pharma.

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Jazz, which specialises in niche drugs, agreed to pay up to $700 million in cash for Eusa shortly after the US business had secured approval for Erwinaze, a new drug targeting childhood leukaemia.

The company, founded in 2006, moved its base to Dublin as part of its $500 million all-share acquisition of Azur Pharma at the start of last year.

– Bloomberg