Fresenius Medical Care $400 million credit facility to launch April 23

By Sara Rosenberg

New York, April 15 - Fresenius Medical Care AG is scheduled to hold a bank meeting on April 23 for a proposed $400 million credit facility, according to a syndicate document. Credit Suisse First Boston, Bank of America and Dresdner are all joint lead arrangers and joint bookrunners, with CSFB acting as sole lead on the term loan D.

The facility consists of a $75 million 31/2-year revolver with an interest rate of Libor plus 175 basis points and a 50 basis points commitment fee, a $75 million 31/2-year term loan A with an interest rate of Libor plus 175 basis points and a $250 million seven-year term loan D with an interest rate of Libor plus 175 basis points, according to the document.

Proceeds will be used to refinance existing debt.

Fresenius is a Bad Homburg, Germany, kidney dialysis company.

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