Capital One served as administrative agent and lead arranger for an amended and restated credit facility totaling approximately $960 million for Covis. This includes a $485 million upsize to Covis’ existing facility in support of the company’s acquisition of AMAG Pharmaceuticals.
“The financing facilitated a transformative acquisition for the company that increased our size and reach, including an entry into key new therapeutic areas,” Michael Porter, CEO of Covis, said.
“We work with Capital One because it has the resources, financial sophistication and pharmaceutical industry expertise we require in a lending partner,” Alexander Mironov, chief business officer at Covis, said. “We knew it could support a nuanced transaction in a relatively compressed time frame.”
“We have developed a very strong relationship with Covis, having closed three transactions with the company in less than two years,” Jason Cohen, managing director at Capital One Healthcare, said. “We have strong confidence in the Covis management team and its ability to execute on its strategic vision.”
Covis is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses.
Capital One Healthcare is a provider of financial services to the healthcare industry.