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Capital One Closes $485MM Upsize to Covis Group’s Senior Credit Facility

November 18, 2020, 08:57 AM
Filed Under: Pharmaceuticals

Capital One announced that it served as administrative agent and lead arranger for an amended and restated credit facility totaling approximately $960 million for Covis Group S.á.r.l. This includes a $485 million upsize to its existing facility in support of the company’s acquisition of AMAG Pharmaceuticals.

“The financing facilitated a transformative acquisition for the company that increased our size and reach, including an entry into key new therapeutic areas,” said Covis CEO Michael Porter.

“We work with Capital One because it has the resources, financial sophistication, and pharmaceutical industry expertise we require in a lending partner,” said Alexander Mironov, Covis’ Chief Business Officer. “We knew it could support a nuanced transaction in a relatively compressed time frame.”

“We have developed a very strong relationship with Covis, having closed three transactions with the company in less than two years,” said Jason Cohen, Managing Director, Capital One Healthcare. “We have strong confidence in the Covis management team and its ability to execute on its strategic vision.”

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