Aveta readies launch of $550 million credit facility for Tuesday

By Sara Rosenberg

New York, March 16 - Aveta Inc. is scheduled to hold a bank meeting on Tuesday to launch a $550 million credit facility, according to sources.

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

The facility consists of a $50 million revolver and a $500 million term loan, sources said.

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

Aveta is a Fort Lee, N.J.-based medical management company.

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