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.
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
