SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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|Item 8.01|| |
On February 10, 2021, Catalent, Inc. issued a press release announcing that its wholly owned subsidiary, Catalent Pharma Solutions, Inc. (the “Operating Company”), has priced a private offering of $550 million aggregate principal amount of 3.125% senior unsecured notes due 2029 (the “Notes”) at par, which represents an increase of $75 million from the offering size previously announced.
The sale of the Notes is expected to be consummated on February 22, 2021, subject to customary closing conditions.
The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Credit Agreement Amendment
Additionally, the Operating Company currently intends to amend its credit agreement (the “Credit Agreement Amendment”) to, among other things, (i) provide incremental revolving credit commitments of up to $175 million (the “Incremental Revolving Commitments”), (ii) refinance its existing term loans with the proceeds of a new term loan facility (the “Dollar Term B-3 Facility” and the loans thereunder, the “Dollar Term B-3 Loans”), and (iii) incur additional incremental term loans under the Dollar Term B-3 Facility in the form of Dollar Term B-3 Loans in an aggregate amount of up to $67 million.
The Operating Company expects that (i) the Incremental Revolving Commitments will be on substantially the same terms as the existing revolving commitments and will be of the same class as the existing revolving commitments, (ii) the rates on the Dollar Term B-3 Facility will be less than the rates under its existing term loan facility, and (iii) the Dollar Term B-3 Facility will mature on the date that is the seventh anniversary following the effective date of the Credit Agreement Amendment. The net proceeds from the Dollar Term B-3 Loans will be used to prepay the Operating Company’s existing term loans and to provide cash on its balance sheet for general corporate purposes, including capital expenditures.
|Item 9.01|| |
Financial Statements and Exhibits.
|99.1||Press Release of Catalent, Inc., dated February 10, 2021, announcing the pricing of the Private Offering.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document).|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Steven L. Fasman|
Senior Vice President, General Counsel
Date: February 10, 2021