Amneal Pharmaceuticals launches $250 million credit facility

By Sara Rosenberg

New York, July 20 - Amneal Pharmaceuticals LLC held a bank meeting on Wednesday to launch a $250 million credit facility that is being talked at Libor plus 325 basis points with no Libor floor, according to a market source.

The facility consists of a $70 million revolver and a $180 million term loan A, the source said.

GE Capital Markets and RBS Citizens are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Leverage is 3.1 times.

Amneal Pharmaceuticals is a Bridgewater N.J.-based generic pharmaceuticals company.

© 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.