MGI Pharma gets $75 million revolver

By Sara Rosenberg

New York, Oct. 24 - MGI Pharma Inc. closed on a new $75 million three-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

JPMorgan acted as bookrunner, lead arranger and administrative agent on the deal.

Pricing on the facility can range from Libor plus 75 to 175 basis points, based on the average liquidity of the borrowers.

The revolver, which was completed on Oct. 18, carries a 12.5 bps unused fee.

There is a $25 million accordion feature.

MGI Pharma is a Bloomington, Minn.-based oncology and acute care-focused biopharmaceutical company.

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