Monday, 8 August 2011

Omnicare gets new $750M credit line

Omnicare Inc. announced it has a new $750 million senior unsecured credit facility, replacing an existing $400 million revolving line of credit.

The credit facility consists of a $300 million, five-year senior unsecured revolving credit facility and a $450 million, five-year senior unsecured term loan facility, according to a press release.

The company said it will use the proceeds of the term loan to redeem a portion of the company's outstanding senior debt senior debt, as well as for working capital and for other general corporate purposes...

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