King Pharmaceuticals to get $500 million revolving credit facility

By Sara Rosenberg

New York, May 6 - King Pharmaceuticals Inc. plans on getting a new $500 million five-year senior secured revolving credit facility (Ba1), according to a 10-Q filed with the Securities and Exchange Commission on Thursday.

Proceeds will be used to refinance the company's existing $475 million revolver.

Closing is expected to take place in the second quarter.

King Pharmaceuticals is a Bristol, Tenn.-based branded pharmaceutical company.

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