BioPharma Credit PLC - life sciences debt investment trust - Says it has USD132.5 million investment in Global Blood Therapeutics Inc, a company which has agreed to be acquired by Pfizer Inc. BioPharma investment is in form of senior secured loan. Loan will be prepaid when Pfizer buy of GBT closes. "The loan was invested in three different tranches with each tranche subject to different prepayment economics," BioPharma adds. Should prepayment occur before start of October, BioPharma will receive US38 million through paydown, prepayment and make-whole fees.
Pfizer on Monday said it has agreed a deal to buy San Francisco, California-based drugmaker GBT for an enterprise value of USD5.4 billion.
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By Eric Cunha; ericcunha@alliancenews.com
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Biopharma Cred. (BPCR)