Catalent Completes Repricing and Extension of Credit Agreement
18 Oktober 2017 - 10:15PM
Business Wire
Catalent, Inc. (“Catalent”) (NYSE:CTLT), the leading global
provider of advanced delivery technologies and development
solutions for drugs, biologics, and consumer health products, today
announced that its wholly owned subsidiary, Catalent Pharma
Solutions, Inc. (the “Catalent Operating Subsidiary”), has
completed an amendment to its senior secured credit facilities to
lower the interest rate on its U.S. dollar-denominated and
euro-denominated term loans and its revolving loans. The new
applicable rate for U.S. dollar-denominated term loans is LIBOR
(subject to a floor of 1.00%) plus 2.25%, which is 0.50% lower than
the previous rate, and the new applicable rate for euro-denominated
term loans is LIBOR (subject to a floor of 1.00%) plus 1.75%, which
is 0.75% lower than the previous rate. The new applicable rate for
revolving loans is initially LIBOR plus 2.25%, which is 1.25% lower
than the previous rate, and such rate can additionally be reduced
to LIBOR plus 2.00% in future periods based on a measure of the
Catalent Operating Subsidiary’s total leverage ratio.
The maturity date for the term loans and revolving loans was
also extended by three years.
The amendment includes a prepayment premium of 1.00% in the
event of another repricing event (as defined in the amendment) on
or before the six-month anniversary of the amendment. There is no
change to the financial covenants as a result of this repricing
amendment.
About Catalent, Inc.
Catalent is the leading global provider of advanced delivery
technologies and development solutions for drugs, biologics and
consumer health products. With over 80 years serving the industry,
Catalent has proven expertise in bringing more customer products to
market faster, enhancing product performance and ensuring reliable
clinical and commercial product supply. Catalent employs
approximately 10,000 people, including over 1,400 scientists, at
more than 30 facilities across five continents, and in fiscal 2017
generated over $2 billion in annual revenue. Catalent is
headquartered in Somerset, New Jersey. For more information visit
www.catalent.com.
Forward-Looking Statements
This release contains both historical and forward-looking
statements. All statements other than statements of historical fact
are, or may be deemed to be, forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements generally can be identified by the
use of statements that include phrases such as “believe,” “expect,”
“anticipate,” “intend,” “estimate,” “plan,” “project,” “foresee,”
“likely,” “may,” “will,” “would” or other words or phrases with
similar meanings. Similarly, statements that describe the Company’s
objectives, plans or goals are, or may be, forward-looking
statements. These statements are based on current expectations of
future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could
vary materially from Catalent’s expectations and projections. Such
forward-looking statements are subject to various risks and
uncertainties, including those risks and uncertainties described
under the section entitled “Part I. Item 1A. Risk Factors” in the
Company’s Annual Report on Form 10-K for the fiscal year ended June
30, 2017, filed with the Securities and Exchange Commission on
August 28, 2017, as such factors may be updated from time to time
in Catalent’s periodic filings with the Securities and Exchange
Commission, which are accessible on the Securities and Exchange
Commission’s website at www.sec.gov. Accordingly, there are or will
be important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in Catalent’s filings with the Securities and Exchange Commission.
All forward-looking statements speak only as of the date of this
release or as of the date they are made, and Catalent does not
undertake to update any forward-looking statement as a result of
new information or future events or developments except to the
extent required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171018006207/en/
Investor:Catalent, Inc.Thomas Castellano,
732-537-6325investors@catalent.com
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