E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 8/17/2005 in the Prospect News Bank Loan Daily.

Express Scripts eyeing early September launch for new credit facility

By Sara Rosenberg

New York, Aug. 17 - Express Scripts Inc. is looking at possibly scheduling a bank meeting for either Sept. 7 or Sept. 8 to launch its proposed credit facility into syndication; however, timing is not yet finalized, according to a market source.

Credit Suisse First Boston and Citibank are joint lead arrangers on the deal.

Proceeds will be used for acquisition financing.

All other details on the loan including structure and price talk are expected to emerge in the next week or so, the source added.

On July 21, Express Scripts announced that it would acquire Orlando, Fla.-based pharmaceutical company Priority Healthcare Corp. in a cash transaction for $28 per share, or $1.3 billion.

The transaction is expected to close in the fourth quarter, subject to customary closing conditions, approval of Priority's stockholders and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Express Scripts is a St. Louis-based independent pharmacy benefits manager.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.