KKR Capital Markets Funds Biotage Buyout With $250 Million Debt

KKR Capital Markets has fully underwritten a $250 million-equivalent debt financing backing KKR & Co.’s offer for Biotage AB, said a person familiar with the matter.

The financing — a unitranche that blends senior and junior debt — is roughly five times Biotage’s approximate $50 million earnings before interest, taxes, depreciation and amortization. It will eventually be syndicated to other lenders, said the person, who declined to be identified as the matter is private.

KKR has continued its spurt of acquisitions amid widespread market volatility by making an 11.6 billion kronor ($1.2 billion) take-private offer for the Swedish life ...