Nycomed requests further covenant relief

The company, owned by Nordic Capital, DLJ Merchant Banking, Coller International Partners and Avista, has net debt of around $3.7bn.

Nycomed reportedly asked lenders to reset its covenants in exchange for a 50 basis point fee and a 100 basis point increase in interest rates. It negotiated 25% covenant relief in March.

The firm, acquired by private equity investors in 2007, has been rumoured to be seeking an IPO as part of an exit strategy.

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