Horizon Pharma In $300 Mln Credit Agreement For Vidara Acquisition

(RTTNews) - Horizon Pharma, Inc. (HZNP) has entered into an agreement with a group of lenders to provide the company with $300 million in financing through a five year senior secured credit facility.

Funding is expected to occur coincident with the closing of the proposed acquisition of Vidara Therapeutics International Ltd.

This agreement replaces the $250 million bridge loan commitment received from Deerfield Management Company, L.P., which the company announced on March 19.

The company intends to use proceeds to effect the proposed acquisition of Vidara, pay related transaction fees and expenses and for general corporate purposes.

Citigroup Global Markets Inc. and Cowen and Company, LLC and their respective affiliates are acting as joint lead arrangers and initial lenders for the financing.