Millennium Laboratories to launch $1.8 billion facility on Monday

By Sara Rosenberg

New York, March 28 - Millennium Laboratories is scheduled to hold a bank meeting on Monday to launch a $1,815,000,000 credit facility, according to a market source.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., BMO Capital Markets and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

The facility consists of a $50 million five-year revolver and a $1,765,000,000 seven-year term loan B, the source said.

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

Millennium Laboratories is a San Diego-based specialty diagnostics laboratory.

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