BNP Paribas is in the market with two synthetic lease facilities. A $235 million facility for Chiron, a global pharmaceuticals company, will fund the construction of two new buildings in California, hit the market Tuesday and a $60 million synthetic lease Specialty Laboratories was launched today.
The construction in California is part of an expansion project for Chiron, which focuses on cancer and infectious diseases, said a banker. Pricing could not be ascertained and BNP officials did not return calls. Martin Forrest, senior director for investor relations, also did not return calls.
The Specialty Laboratories facility is part of a $90 million credit backing the construction of two laboratories, noted the banker. Pricing on the $30 million revolver is LIBOR plus 1 7/8% and on the lease LIBOR plus 2 1/2% with a 3/8% commitment fee across the deal. Specialty Laboratories provides esoteric testing to hospitals, laboratories, and specialist physicians.