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Capital One Closes $485 Million Upsize to Covis Group’s Senior Credit Facility
November 17, 2020
Source: Capital One
Capital One announced today 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.”
Covis is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses. It is headquartered in Luxembourg with operations in Zug, Switzerland. Additional information can be found at www.covispharma.com.
Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers. Additional information can be found at capital.one/healthcare.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $305.7 billion in deposits and $421.9 billion in total assets as of September 30, 2020. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
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