BioPharma Credit PLC Update on New Investment (6476M)
May 01 2018 - 9:30AM
UK Regulatory
TIDMBPCR
RNS Number : 6476M
BioPharma Credit PLC
01 May 2018
1 May 2018
biopharma credit plc
update on new investment
BioPharma Credit PLC (LSE: BPCR), the specialist life sciences
debt investor, would like to provide additional information on the
investment which was initially disclosed on April 23, 2018. BPCR is
pleased to announce that today it closed and funded a
senior-secured term loan to Sebela BT Holdings Inc., a subsidiary
of Sebela Pharmaceuticals. BPCR is the lead investor and collateral
agent for the US$316 million loan and invested US$194 million
alongside co-investors providing US$122 million. Key terms of the
financing include a five-year final maturity, a high single-digit
floating coupon, and amortization beginning after the 3(rd) quarter
of 2018.
Sebela Pharmaceuticals is a private specialty pharmaceutical
company focused on gastro-intestinal (GI) medicines, dermatology,
and women's health with pro-forma sales of approximately $250
million. Total leverage on Sebela is less than 4 times Debt to
EBITDA.
"We are pleased to be partnering with Sebela as they build a
leading specialty pharmaceutical business", said Pedro Gonzalez de
Cosio, Managing Member of Pharmakon Advisors.
-Ends-
Link Company Matters Limited
Company Secretary
Enquiries:
Buchanan
David Rydell/Mark Court/Jamie Hooper/Henry Wilson
+44 (0) 20 7466 5000
Biopharmacredit@buchanan.uk.com
Notes to Editors:
BioPharma Credit PLC is London's only listed specialist investor
in debt from the life sciences industry and joined the LSE on 27th
March 2017. The Company seeks to provide long-term shareholder
returns, principally in the form of sustainable income
distributions from exposure to the life sciences industry. The
Company seeks to achieve this objective primarily through
investments in debt assets secured by royalties or other cash flows
derived from the sales of approved life sciences products.
LEI: 213800AV55PYXAS7SY24
This announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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