Fenwal to launch $475 million credit facility Tuesday

By Sara Rosenberg

New York, Jan. 22 - Fenwal Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $475 million credit facility, according to a market source.

Morgan Stanley and Citigroup are the lead banks on the deal, with Morgan Stanley the left lead.

Proceeds will be used to help fund the acquisition of Baxter International Inc.'s Transfusion Therapies business by Texas Pacific Group and Maverick Capital, Ltd.

Texas Pacific and Maverick are buying the blood collection and processing business from Baxter for $540 million.

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