Owens & Minor plans $450 million term loan B for acquisition

By Sara Rosenberg

New York, Nov. 1 – Owens & Minor Inc. has received a commitment for an up to $450 million term loan B to help fund its acquisition of the surgical and infection prevention business of Halyard Health Inc. for about $710 million in cash, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Bank of America Merrill Lynch is the lead bank on the deal.

The company also plans on amending on its existing credit facilities to allow for the new term loan B.

Other funds for the acquisition will come from cash on hand.

Closing is expected in the first quarter of 2018, subject to customary conditions and regulatory approvals, including Hart-Scott-Rodino.

Owens & Minor is a Mechanicsville, Va.-based health care solutions company.

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