This content is from: Innovation

PPD Eyes $2.2B Loan For Buyout

Pharmaceutical Product Development is seeking to fund its buyout by Carlyle Group and Hellman & Friedman with debt worth $2.2 billion.

Pharmaceutical Product Development (PPD) is seeking to fund its buyout by Carlyle Group and Hellman & Friedman with debt worth $2.2 billion, Bloomberg reports. The pharmaceutical research organization wants a $1.33 billion first-lien term loan, a $175 million revolving credit line and $700 million bridge financing.

Debt financing commitments for the transaction have been given by Credit Suisse, JPMorgan Chase & Co., Goldman Sachs Group and UBS. The buyers agreed to pay $3.9 billion for the acquisition of PPD earlier this month.

Click here for the story from Bloomberg.

Related Content