Catalent (CTLT) to Offer $400M in Senior Notes

November 28, 2016 8:02 AM EST

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Catalent, Inc. (NYSE: CTLT)announced that its wholly owned subsidiary, Catalent Pharma Solutions, Inc., intends to offer, subject to market and other conditions, $400 million (U.S. dollar equivalent) aggregate principal amount of euro-denominated senior unsecured notes due 2024 (the “Notes”) in a private offering (the “Private Offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

The Catalent Operating Subsidiary intends to use the net proceeds from the Private Offering to fund its acquisition of Accucaps Industries Limited, repay a portion of the outstanding borrowings under its senior secured credit facilities, plus any accrued and unpaid interest, pay related fees and expenses and provide cash on its balance sheet for general corporate purposes.

The Notes will be guaranteed by all of the wholly owned U.S. subsidiaries of the Catalent Operating Subsidiary that guarantee its senior secured credit facilities. The Notes will not be guaranteed by PTS Intermediate Holdings, LLC or Catalent, the direct and indirect parent companies of the Catalent Operating Subsidiary.

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