Grifols, the Spain-based life sciences conglomerate, took a major step toward acquiring RTP-based Talecris Biotherapeutics (Nasdaq: TLCR) on Wednesday by selling $1.1 billion in bonds.

IFR, a Thomson Reuters service, reported the transaction.

The sale of notes through a private placement was managed by Deutsche Bank, Nomura, BBVA Securities, BNP Paribas, HSBC and Morgan Stanley, IFR said.

Grifols had encountered delays in securing financing. According to Reuters, Grifols had hoped to sell the bonds in December. A banker told Reuters the problem was the debt crisis taking place in the European Union.

Grifols also has secured a $300 million revolving credit to help finance the takeover. The merger was announced last June.

The financing includes:

  • $1.5 billion in commitments from financial institutions
  • $1.6 billion from institutional investors
  • $1.1 billion in bonds
  • A $300 million revolving credit line

The deal also includes the assumption of some $600 million in Talecris debt.

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