Fresenius trims $500 million term loan pricing to Libor plus 200 bps

By Sara Rosenberg

New York, Aug. 1 - Fresenius SE & Co. KGaA reduced pricing on its $500 million six-year term loan to Libor plus 200 basis points from Libor plus 225 bps, according to a market source.

In addition, the original issue discount was set at 991/2, the tight end of the 99 to 99½ talk, the source said.

As before, the loan has no Libor floor.

BofA Merrill Lynch, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Fresenius is a Bad Homburg, Germany-based provider of dialysis services and 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.