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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Barclays Bank, Jazz Pharamceuticals Amend Credit Facilities
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Lenders/Participants
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Barclays Bank [Administrative Agent, Collateral Agent, L/C Issuer, Swing Line Lender]
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Structure
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Revolver Increase, Incremental Term Loan, Term Loan Refinance
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Amount
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$1.330
Billion
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Borrower(s)
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Jazz Pharmaceuticals, Inc., Jazz Financing I Limited, Jazz Pharmaceuticals Ireland Limited
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Description
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The Amended Credit Agreement provides for (i) a tranche of incremental term loans made to the U.S. Borrower in the aggregate principal amount of $350 million ("Incremental Term Loans"), (ii) a tranche of term loans made to the U.S. Borrower (together with the Incremental Term Loans, the "New Term Loans") to refinance the $554.4 million aggregate principal amount of term loans previously outstanding under the Existing Credit Agreement ("Prior Term Loans") in their entirety and (iii) a revolving credit facility of $425 million (the "Revolving Credit Facility") that replaces the revolving credit facility of $200 million provided for under the Existing Credit Agreement. The Revolving Credit Facility provides for revolving loans to be made to any of the Borrowers. Jazz Pharmaceuticals used the proceeds from the Incremental Term Loans and $300 million of loans under the Revolving Credit Facility to purchase the Ordinary Shares and ADSs properly tendered and accepted for payment at the expiration of the Offer as of January 22, 2014, and expects to use the proceeds from future loans under the Revolving Credit Facility, if any, for general corporate purposes, including corporate development activities. The New Term Loans have the same June 12, 2018 maturity date that was applicable to the Prior Term Loans. Loans under the Revolving Credit Facility will have the same June 12, 2017 maturity date that was applicable under the Existing Credit Agreement. The New Term Loans bear interest, at the U.S Borrower's option, at a rate equal to either the LIBOR rate, plus an applicable margin of 2.50% per annum (subject to a 0.75% LIBOR floor), or the prime lending rate, plus an applicable margin equal to 1.50% per annum (subject to a 1.75% prime rate floor). Loans under the Revolving Credit Facility will bear interest, at the applicable Borrower's option, at a rate equal to either the LIBOR rate, plus an applicable margin of 2.50% per annum, or the prime lending rate, plus an applicable margin equal to 1.50% per annum, subject to reduction by 0.25% or 0.50% based upon Jazz Pharmaceuticals' secured leverage ratio (as defined in the Amended Credit Agreement).
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Industry
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Pharmaceutical
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| Related Tags |
Barclays Bank
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ABL Advisor
Deal Tables
2025
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