Intas $769m acquisition loan heading for syndication

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By Shruti Chaturvedi
12 Oct 2016

An acquisition financing to back Indian company Intas Pharmaceuticals’ purchase of a portfolio of assets in the UK and Ireland is due to hit syndication soon. The loan is expected to be one of the first big ticket trades to be booked partly out of India’s international financial services centre, Gift City.

Intas had lined up committed funding of $1bn before submitting its proposal for the acquisition. It was awarded the bid earlier this month and will be buying Actavis UK and Actavis Ireland from Israel's Teva Pharmaceutical Industries for an enterprise value of £600m ($736.3m).

The transaction is subject to ...

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