Mallinckrodt entered into an agreement to merge Sun Acquisition, a Delaware corporation and an indirect, wholly owned subsidiary of Mallinckrodt, and Sucampo Pharmaceuticals. Deutsche Bank agented a $900 million revolving credit facility to support the transaction.
According to a related 8-K filing, Mallinckrodt International Finance borrowed $900 million as a revolving loan under the revolving credit facility dated March 19, 2014 among Mallinckrodt, MIFSA, Mallinckrodt CB, the lenders party and Deutsche Bank, as administrative agent. The revolving loan matures on February 28, 2022 and is prepayable prior to such date, in whole or in part, without premium or penalty at the election of MIFSA. After giving effect to the borrowing of the revolving loan, there is no remaining availability under the revolving credit facility.
It is contemplated that some or all of the proceeds from the revolving loan will be used to finance, in part, the consideration payable in the offer and the merger, which are expected to be completed in the first calendar quarter of 2018.
