Mallinckrodt draws $240 million on revolver for Ikaria acquisition

New York, April 6 – Mallinckrodt plc said its Mallinckrodt International Finance SA subsidiary borrowed $240 million from its revolving credit facility.

The funds will be used to help finance the acquisition of Ikaria, Inc., according to an 8-K filing with the Securities and Exchange Commission.

Following the draw, Mallinckrodt has $10 million of availability on the revolver.

Mallinckrodt previously announced that it had obtained a $1.4 billion unsecured bridge loan facility from Goldman Sachs Bank USA to help fund its acquisition of Ikaria for about $2.3 billion in cash.

Mallinckrodt is a Dublin-based pharmaceutical company. Ikaria is a Hampton, N.J.-based provider of proprietary and innovative therapies for the critical care units in hospitals.

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