Oaktree Provides $150MM Term Loan to Sorrento Therapeutics

Sorrento Therapeutics, a clinical-stage immunotherapy biotech company, closed a debt financing for up to $150 million. The financing was provided by funds and accounts managed by Oaktree Capital Management.

Athyrium Provides $110MM Facility to Kala Pharmaceuticals

Kala Pharmaceuticals closed a $110 million credit facility with funds managed by Athyrium Capital Management. Morgan Stanley acted as sole structuring agent on the transaction.

BAML Leads Refinitiv $5.5B Loan Launch

Reuters reported syndication of the $5.8 billion-equivalent loan package backing Blackstone’s buyout of Refinitiv, Thomson Reuters’ Financial and Risk division, is expected to launch on September 4 in the U.S. Bank of America Merrill Lynch is leading the syndication.

Rabobank, Santander, Others Support Sainsbury Acquisition of Asda

Reuters reported UK supermarket Sainsbury’s closed £3.5 billion ($4.5 billion) in syndicated loans in order to facilitate an acquisition of Walmart’s Asda, which is valued at £7.3 billion ($9.7 billion).

JPMorgan Agents Zebra Technologies Debt Restructuring

Zebra Technologies restructured its debt to reduce interest costs while maximizing financial flexibility.

Barclays Agents $350MM Facility for Keane

Keane Group entered into a new senior secured term loan facility in an initial aggregate principal amount of $350 million to refinance its existing term loan credit facility,

Goldman Sachs Supports Fusion Birch Buy

Fusion, a provider of cloud services, closed its acquisition of the business services unit of Birch Communications. Goldman Sachs served as administrative agent for $680 million in financing to support the buy.

Barclays, Others Support T-Mobile, Sprint Merger

T-Mobile and Sprint agreed to merge in an all-stock transaction, a total implied enterprise value of approximately $59 billion for Sprint and approximately $146 billion for the combined company.

Credit Agricole Replaces Morgan Stanley in Michelin Buy

Michelin terminated its previously announced credit facility with Morgan Stanley to support the acquisition of Fenner and entered into a new commitment with Credit Agricole.

Morgan Stanley Agents $$234MM Refi for Alkermes

Biopharmaceutical company Alkermes amended its credit agreement with Morgan Stanley as administrative agent to provide for a new class of replacement term loans for up to $284.5 million.