Fisher Scientific to launch $600 million credit facility next week

By Sara Rosenberg

New York, Jan. 10 - Fisher Scientific International Inc. is scheduled to launch a new $600 million credit facility during the week of Jan. 13, according to a syndicate source. JPMorgan and Deutsche Bank are the lead banks on the deal.

The loan consists of a $150 million five year revolver and a $450 million seven-year term loan B. Price talk on both tranches is currently Libor plus 300 basis points, a market source told Prospect News.

Proceeds will be used to help fund the refinancing of $600 million 9% senior subordinated notes due 2008.

Fisher Scientific is a Hampton, N.H. manufacturer of scientific instruments, equipment, and supplies.

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