Takeda Pharmaceutical Co. (4502), which bought Swiss drugmaker Nycomed in September, plans to sign 80 billion yen ($956 million) in syndicated loans this month to help pay for the purchase, according to five people familiar with the matter.
The facility will include a six-year term loan priced at 1 basis point more than the three-month London interbank offered rate and a four-year term loan priced the same as the benchmark, the people said, declining to be identified because the details are private. Sumitomo Mitsui Financial Group Inc. (8316) and Mitsubishi UFJ Financial Group Inc. are arranging the deal, the people said.
Takeda, Asia’s biggest drugmaker, will use the funds to help repay a 570 billion yen one-year bridge loan it borrowed from the arranging banks for the Nycomed deal, the people said. It earlier this week sold 190 billion yen of bonds, a record domestic offering for a pharmaceutical company in the country, according to data compiled by Bloomberg dating back to 1985.
“We are considering various options for the repayment of the bridge loan and cannot comment on the matter until we arrive at a decision,” Minori Koshino, a Takeda spokesman, said in a telephone interview today.
To contact the reporter on this story: Emi Urabe in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Shelley Smith at email@example.com