Pharma fund sells rare drug royalty ABS

By Matthew Scully
19 Jun 2014

A private equity firm with investments in over 40 royalty streams from drug and life science companies has returned to the capital markets with a type of deal not seen in the US in two years.

Goldman Sachs and Bank of America are meeting with investors to sell a triple-B rated $454m asset backed security being offered by DRI Capital, according to investors looking into the esoteric issuance. The top three drug royalties will come from Stelara, Simponi, and Tysabri.

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