Fresenius Medical to launch $1.2 billion credit facility

By Sara Rosenberg

New York, Nov. 18 - Fresenius Medical Care AG is scheduled to hold a bank meeting Friday to launch its proposed $1.2 billion credit facility, according to a syndicate document.

Credit Suisse First Boston, Bank of America and Deutsche Bank are joint lead arrangers and joint bookrunners on the deal.

The facility consists of a $750 million 51/4-year revolving credit facility with an interest rate of Libor plus 87.5 basis points and a commitment fee of 25 basis points and a $450 million 51/4-year term loan A with an interest rate of Libor plus 87.5 basis points, the document said.

Proceeds will be used to refinance existing debt.

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

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