Amneal Pharmaceuticals to launch $565 million facility on Thursday

By Sara Rosenberg

New York, Sept. 30 - Amneal Pharmaceuticals LLC will launch on Thursday afternoon a $565 million credit facility, according to a market source.

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

The facility consists of a $90 million five-year ABL revolver and a $475 million bifurcated six-year covenant-light term loan B, the source said.

Proceeds will be used to refinance existing debt and fund a dividend.

Amneal Pharmaceuticals is a Bridgewater, N.J.-based manufacturer of generic pharmaceuticals.

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