GE Capital Agents $250 Million Financing for Amneal Pharmaceuticals
BETHESDA, MD, FEB. 10, 2015 - GE Capital’s Healthcare Financial Services (HFS) business announced today that it is serving as administrative agent and collateral agent on a $250 million term loan financing for Amneal Pharmaceuticals LLC. This term loan will be pari passu with a previously closed $491 million term loan on which GE Capital is also the administrative agent. GE Capital Markets served as joint bookrunner on both financings.
Headquartered in Bridgewater, N.J., Amneal is a vertically-integrated developer, manufacturer, marketer and distributor of generic pharmaceuticals. It’s among the largest manufacturers of generic pharmaceuticals in the U.S. The proceeds from this financing will be used to fund capital expansion related to manufacturing facilities and a distribution to existing shareholders.
“We value our long-standing relationship with HFS and its deep understanding of our company and our business,” said Rochelle Fuhrmann, Amneal’s CFO. “We’re pleased with its focus and execution as well as its ability to handle the many dynamics that come into play on large financing deals.”
"We are pleased to have completed this financing for Amneal. It’s the sixth transaction we’ve successfully agented for the company over the past several years,” said Al Aria, senior managing director of HFS’ Corporate Finance business. “It further illustrates our ability to combine our pharmaceutical sector expertise with our capital markets capabilities to help rapidly growing companies such as Amneal realize their strategic goals.”
About Amneal Pharmaceuticals LLC
Amneal Pharmaceuticals LLC is a global supplier of generic pharmaceuticals, vertically integrated across the entire supply chain from R&D to finished goods. Since its inception in 2002, Amneal has invested extensively in R&D resources, manufacturing infrastructure, and strategic expansion opportunities - all contributing to significant growth. The company prides itself on its unwavering commitment to quality, strong business relationships, and innovative approach. Amneal is privately held with U.S. headquarters in Bridgewater, N.J., and international headquarters in Zug, Switzerland. For more information, please visit www.amneal.com.
About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market, deploying approximately $10.5 billion in new commitments to customers via 240+ transactions in 2014. That adds up to more than $80 billion in financing over the past 11 years. For the third consecutive year, HFS was the top lead arranger for financings up to $1 billion in U.S. healthcare leveraged finance.
Customers across 45 healthcare sectors - including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices - rely on HFS to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth industry knowledge and expertise, the HFS team of professionals creates business and financial solutions tailored to meet the individual needs of its customers. For more information, visit gecapital.com/healthcare or follow company news via Twitter.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
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