Sciele Pharma $100 million facility priced at Libor plus 175 to 250 bps

By Sara Rosenberg

New York, Sept. 21 - Sciele Pharma Inc.'s new $100 million five-year credit facility carries an interest rate that can range from Libor plus 175 to 250 basis points, depending on the ratio of indebtedness to earnings, according to an 8-K filed with the Securities and Exchange Commission Thursday.

UBS Investment Bank and LaSalle Bank acted as the lead banks on the deal.

The facility, which closed on Sept. 18, replaced the previous $20 million credit facility, providing the company with added flexibility for potential future growth opportunities.

Sciele Pharma is an Atlanta-based specialty pharmaceutical company.

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