ConvaTec to launch $1.85 billion credit facility during May 18 week

By Sara Rosenberg

New York, May 15 – ConvaTec Inc. is scheduled to hold a bank meeting in London on Tuesday and one in New York on Wednesday to launch a $1.85 billion credit facility, according to sources.

Goldman Sachs, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.

The facility consists of a $200 million revolver due 2020, an $800 million term loan and an $850 million euro-equivalent term loan, sources said.

Proceeds will be used to refinance an existing credit facility and senior secured notes.

ConvaTec is a Luxembourg-based medical products and technologies company owned by Nordic Capital and Avista Capital Partners.

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