Cinven's AMCo widens pricing for £984m dividend recap loan
Amdipharm Mercury (AMCo), the UK generic pharmaceuticals group owned by Cinven, has widened pricing on its £984m refinancing and recapitalisation loan, as investors worry about a £420m dividend for its owners.
The borrower has changed price guidance on its £825m-equivalent term loan ‘B’. A £450m tranche, initially guided at 475bp over Libor, now has a price guidance range of 500bp-525bp.
A €470m tranche has moved from 425bp to price guidance of 450bp-475bp over Euribor.