Cinven's AMCo widens pricing for £984m dividend recap loan

By Ross Lancaster
30 Oct 2014

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.

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