D&K Healthcare amends revolver to increase size and extend term

By Sara Rosenberg

New York, Jan. 10 - D&K Healthcare Resources Inc. amended its asset-based senior secured revolving credit facility, increasing available credit to $635 million from $600 million through the addition of a $35 million last-out tranche and extending the term by two years to March 2009, according to a company news release.

Furthermore, the revolver contains an accordion feature that would allow the company to expand the facility to $735 million.

Banc of America Securities LLC served as lead arranger on the amended facility.

"With this revised credit facility we are increasing our financial flexibility," chairman and chief executive officer J. Hord Armstrong III said in the release. "The additional flexibility will help us manage our company during these challenging times and allow us to continue to broaden and grow our business as opportunities arise."

D&K Healthcare is a St. Louis-based full-service wholesale distributor of branded and generic pharmaceuticals and over-the-counter health and beauty aid products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.