Multiple banks are competing to join a $4.25 billion debt financing package backing Curium's acquisition of radiopharmaceutical company Lantheus Holdings Inc. The deal, valued up to $8 billion, includes an upfront payment of about $102.50 per share plus up to $12 in contingent value rights. JPMorgan Chase & Co. leads the financing, with Jefferies Financial Group Inc. also participating, as lenders vie for fees and league table positioning. The financing structure features a $4.25 billion senior secured term loan B, a senior secured multicurrency revolving credit facility, and a $1.125 billion payment-in-kind (PIK) facility that has been pre-placed.
The term loan B is expected to launch for general sale to investors next year, adding to the growing pipeline of buyout debt for 2027. Lantheus specializes in Pylarify, a radioactive imaging agent for prostate cancer, while Curium produces radioactive tracers for diagnosing cancer and heart, bone, and brain diseases. The deal was struck by Capvest Partners-backed Curium in August to take Lantheus private.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing