Deutsche Bank and Credit Suisse First Boston went out to managing agents last week with a $1.64 billion facility that backs the acquisition of women's pharmaceutical company Warner Chilcott by Bain Capital, DLJ Merchant Banking Partners, J.P. Morgan Partners and Thomas H. Lee Partners. A couple of institutions were offered a preview of the credit at the managing agent meeting, a buysider said.
The acquisition is valued at approximately $3 billion. The credit will include a $1.25 billion "B" loan. There will also be $750 million of bonds. A bank meeting is set for Jan. 4. "It's going to be an interesting one. It's a very levered deal," the buysider noted.
A Deutsche Bank spokesman and T.H. Lee spokeswoman declined comment. A spokesman for CSFB and DLJ did not return calls. Warner Chilcott officials and spokespeople for Bain and J.P. Morgan Partners did not return calls.