---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-298631"
form_type: "8-K"
ticker: null
cik: "0001596783"
company_name: "Catalent, Inc."
filed_at: "2023-12-19T23:59:59+00:00"
generated_at: "2026-06-07T10:34:11.240708+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Catalent closes $600M incremental term loan upsized due to strong demand; total liquidity ~$1.3B

## Summary
- Catalent Pharma Solutions borrowed $600M in new term loans under existing credit agreement; upsized due to strong lender demand.
- Proceeds used to repay a portion of outstanding revolver borrowings and pay related fees and expenses.
- Interest rate: Term SOFR + 3.00% (floor 0.50%) or base rate + 2.00%; subject to prepayment premium and step-up.
- Total liquidity post-transaction approximately $1.3 billion, per CFO Matti Masanovich.
- Loans amortize at 1% per annum quarterly starting second full fiscal quarter after closing.

## SEC filing metadata
- accession: 0001193125-23-298631
- form_type: 8-K
- cik: 0001596783
- company_name: Catalent, Inc.
- filed_at: 2023-12-19T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1596783/000119312523298631/0001193125-23-298631-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1596783/000119312523298631/d676870d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-298631
- JSON: https://secwatch.observer/filing/0001193125-23-298631.json
- Plain text: https://secwatch.observer/filing/0001193125-23-298631.txt

## Key facts
- Debt Financings
  Catalent, Inc. incurred term loan of $600 million aggregate principal amount with JPMorgan Chase Bank, N.A. at term SOFR rate plus 3.00% or base rate plus 2.00%.
  - Instrument: term loan
  - Principal: $600 million aggregate principal amount
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: term SOFR rate plus 3.00% or base rate plus 2.00%
  - Event: incurrence
  source text: and the lenders and other parties thereto (as amended, including by Amendment No. 11, the “Credit Agreement”). Pursuant to Amendment No. 11, the Operating Company incurred $600 million aggregate principal amount of new incremental dollar term B-4 loans (the “Incremental Term Loans”), which was upsized due to lender demand, under the Credit Agreement. The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1596783/000119312523298631/0001193125-23-298631-index.htm
- Material Agreements
  Catalent, Inc. amended Amendment No. 11 to Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at $600,000,000 aggregate principal amount of new incremental dollar term B-4 loans under the Credit Ag (effective 2023-12-19).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: $600,000,000 aggregate principal amount of new incremental dollar term B-4 loans under the Credit Ag
  - Effective: 2023-12-19
  source text: On December 19, 2023, Catalent Pharma Solutions, Inc. (“Operating Company”), a wholly owned subsidiary of Catalent, Inc. (the “Company”), entered into Amendment No. 11 to Amended and Restated Credit Agreement (“Amendment No. 11”) by and among Operating Company, PTS Intermediate Holdings LLC (“Holdings”), the subsidiaries of Operating Company party thereto (together with Holdings, the “Guarantors”), JPMorgan Chase Bank, N.A., as the administrative agent, collateral agent, swing line lender, and letter of credit issuer, and the lenders and other parties thereto, which Amendment No. 11 amends that certain Amended and Restated Credit Agreement, dated as of May 20, 2014, among Operating Company, the Guarantors and other guarantors party thereto, JPMorgan Chase Bank, N.A., as the administrative agent, collateral agent, and swing line lender, and the lenders and other parties thereto (as amended, including by Amendment No. 11, the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1596783/000119312523298631/0001193125-23-298631-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.