CCS Medical $480 million credit facility to launch Wednesday

By Sara Rosenberg

New York, Sept. 16 - CCS Medical is scheduled to hold a bank meeting on Wednesday to launch its proposed $480 million credit facility, according to a market source.

Wachovia and Bank of America are the lead banks on the deal.

The facility consists of a $50 million revolver, a $300 million first-lien term loan and a $130 million second-lien term loan, the source said.

Proceeds will be used to help fund Warburg Pincus' acquisition of CCS and another Florida-based company.

CCS is a Clearwater, Fla., direct-to-consumer provider of medical supplies.

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