Date: 2015-10-12
Type of information: Loan
Company: Sucampo Pharmaceuticals (USA - MA)
Investors:
Amount: $250 million
Funding type: loan
Planned used:
- This credit facility will be used to fund Sucampo's acquisition of R-Tech Ueno. Sucampo continues to expect to close the acquisition of the remaining shares in the fourth quarter of 2015.
Others:
- • On October 22, 2015, Sucampo Pharmaceuticals announced the closing of a $250.0 million credit facility in connection with the financing of its acquisition of R-Tech Ueno. The loans under the credit facility were fully allocated to institutional investors. The loans under the credit facility bear interest at a LIBOR (subject to a 1% floor) plus 7.25% or base rate (subject to a 2% floor) plus 6.25% and a final maturity date of October 16, 2021.
- Sucampo has funded all shares and stock acquisition rights tendered during the previously announced tender offer and has also closed its share purchase agreement with R-Tech Ueno's founders and a related entity. As a result, upon settlement of the share transfer from the founders, Sucampo will control approximately 98% of R-Tech Ueno shares.
- Sucampo intends to acquire all remaining outstanding shares of R-Tech Ueno through a squeeze-out process under Japanese law. Sucampo continues to expect to close the acquisition of the remaining shares in the fourth quarter of 2015.
Therapeutic area: Gastrointestinal diseases Immunological diseases Ophtalmological diseases Cancer - Oncology
Is general: Yes
