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Harvard Drug to launch $202 million facility via Credit Suisse, UBS
By Paul A. Harris
St. Louis, March 31 - Harvard Drug Group, LLC will hold an April 7 bank meeting for its $202 million senior secured credit facility, according to market sources.
Credit Suisse and UBS are leading the deal, which is comprised of a $160 million six-year term loan, a $22 million delayed-draw term loan and a $20 million revolver.
The price talk is Libor plus 450 basis points at 98 with a 2% Libor floor.
Proceeds will be used to help fund the acquisition of the Livonia, Mich.-based independent pharmaceutical distributor by Court Square Capital.
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