Actavis gets $1.27 billion credit facility

By Sara Rosenberg

New York, Jan. 9 -Actavis Group closed on a new $1.27 billion credit facility, according to a company news release.

UBS acted as the bookrunner on the deal. ABN Amro, Bank of America, BNP Paribas, HSBC and WestLB were lead arrangers, seven other banks signed on as arrangers and 13 banks signed on to the co-arranger level.

The facility consists of a $970 million five-year term loan and a $300 million five-year revolver.

Proceeds from the facility were used to help fund the company's $810 million acquisition of Alpharma Inc.'s human generics division in October and to refinance Actavis' existing credit facility.

Actavis is a Reykjavik, Iceland-based generic pharmaceutical company.

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