Catalent, Inc. (“Catalent”) (NYSE:CTLT), the leading global provider of
advanced delivery technologies and development solutions for drugs,
biologics, and consumer health products, today announced that its wholly
owned subsidiary, Catalent Pharma Solutions, Inc. (the “Catalent
Operating Subsidiary”), has completed an amendment to its senior secured
credit facilities to lower the interest rate on its U.S.
dollar-denominated and euro-denominated term loans. The new applicable
rate for U.S. dollar-denominated term loans is LIBOR (subject to a floor
of 1.00%) plus 2.75%, which is 0.50% lower than the previous rate (and
which amendment also eliminates ‘step’ pricing based on a measure of the
Catalent Operating Subsidiary’s total leverage ratio), and the new
applicable rate for euro-denominated term loans is LIBOR (subject to a
floor of 1.00%) plus 2.50%, which is 0.75% lower than the previous rate
(and for which ‘step’ pricing has also been eliminated).
The amendment also includes a prepayment premium of 1.0% in the event of
another repricing event (as defined in the amendment) on or before the
six-month anniversary of the amendment. There is no change to maturities
or covenants as a result of this repricing amendment.
About Catalent, Inc.
Catalent is the leading global provider of advanced delivery
technologies and development solutions for drugs, biologics and consumer
health products. With over 80 years serving the industry, Catalent has
proven expertise in bringing more customer products to market faster,
enhancing product performance and ensuring reliable clinical and
commercial product supply. Catalent employs more than 9,500 people,
including over 1,400 scientists, at more than 30 facilities across 5
continents and in fiscal 2016 generated $1.85 billion in annual revenue.
Catalent is headquartered in Somerset, N.J. For more information visit www.catalent.com.
Forward-Looking Statements
This release contains both historical and forward-looking statements.
All statements other than statements of historical fact are, or may be
deemed to be, forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements generally can be identified by the use of statements that
include phrases such as “believe,” “expect,” “anticipate,” “intend,”
“estimate,” “plan,” “project,” “foresee,” “likely,” “may,” “will,”
“would” or other words or phrases with similar meanings. Similarly,
statements that describe the Company’s objectives, plans or goals are,
or may be, forward-looking statements. These statements are based on
current expectations of future events. If underlying assumptions prove
inaccurate or unknown risks or uncertainties materialize, actual results
could vary materially from Catalent’s expectations and projections. Such
forward-looking statements are subject to various risks and
uncertainties, including those risks and uncertainties described under
the section entitled “Part I. Item 1A. Risk Factors” in the Company’s
Annual Report on Form 10-K for the fiscal year ended June 30, 2016,
filed with the Securities and Exchange Commission, as such factors may
be updated from time to time in Catalent’s periodic filings with the
Securities and Exchange Commission, which are accessible on the
Securities and Exchange Commission’s website at
www.sec.gov
.
Accordingly, there are or will be important factors that could cause
actual outcomes or results to differ materially from those indicated in
these statements. These factors should not be construed as exhaustive
and should be read in conjunction with the other cautionary statements
that are included in Catalent’s filings with the Securities and Exchange
Commission. All forward-looking statements speak only as of the date of
this release or as of the date they are made, and Catalent does not
undertake to update any forward-looking statement as a result of new
information or future events or developments except to the extent
required by law.
Investors:
Catalent, Inc.
Thomas Castellano, 732-537-6325
investors@catalent.com