Mar 19 2014
Deerfield Management Company announced today that it has provided up to $250 million in acquisition financing to Horizon Pharma, Inc. (NASDAQ: HZNP) for the acquisition of Vidara Therapeutics International Ltd.
Under the terms of the agreement, Horizon Pharma has the option to draw up to $250 million in exchange for a commitment fee. Amounts drawn will accrue interest payable quarterly in arrears and must be repaid within five years. Horizon has the ability to prepay the loan after the third and fourth anniversaries.
"Deerfield is pleased to provide its partner Horizon Pharma with flexibility in its financing choices as it builds out its product portfolio and transitions into becoming an important and profitable pharmaceutical company," stated James Flynn, Managing Partner of Deerfield.
Source:
Deerfield Management Company