Ortho-Clinical to launch roughly $2.5 billion facility on Monday

By Sara Rosenberg

New York, April 24 - Ortho-Clinical Diagnostics Inc. is scheduled to hold a bank meeting at 2:30 p.m. ET on Monday to launch a $2,525,000,000 senior secured credit facility, according to a market source.

Barclays, Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, UBS Securities LLC and Nomura are leading the debt.

The facility consists of a $350 million five-year revolver and a $2,175,000,000 seven-year term loan, the source said.

Proceeds will be used to help fund the buyout of the company by the Carlyle Group from Johnson & Johnson for $4.15 billion.

Other funds for the transaction will come from equity and bonds.

Closing is expected in the middle of this year, subject to customary regulatory approvals.

Ortho-Clinical Diagnostics is a Raritan, N.J.-based provider of services for screening, diagnosing, monitoring and confirming diseases.

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