Bankers expect bond for DOC Generici buyout
ICG’s purchase of Italian generic pharmaceuticals firm DOC Generici is likely to be financed with high yield bonds, according to bankers, once the deal receives regulatory approval. The deal is said to be worth around €1.2bn in total, though ICG has declined to comment at all on the financing structure.
DOC Generici has been held by several private equity owners, most recently CVC, which bought it in 2016 from Charterhouse Capital Partners. CVC faced off against a deteriorating market last October to place the €1.28bn in bonds financing its buyout of family-owned Recordati, another Italy-based generics business.ICG invested through its ...
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