Nycomed adds second lien to woo funds as banks snub senior loan
Norwegian pharmaceutical company Nycomed was forced to introduce a second lien tranche on its Eu5.7bn leveraged loan yesterday (Thursday) after the senior part of the facility failed to attract enough bank investors.
The transaction had been intended as an all-senior deal to finance Nycomed's Eu4.215bn buy-out of German drug company Altana.
Credit Suisse, Citigroup, Goldman Sachs and Morgan Stanley are bookrunners, with Nordea, SEB Merchant Banking and DnB Nor as mandated lead arrangers.But the bookrunners have expressed doubts about whether all ...
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