Express Scripts to get new credit facility via CSFB, Citibank

By Sara Rosenberg

New York, Aug. 4 - Express Scripts Inc. will be approaching the loan market with a new credit facility via joint lead arrangers Credit Suisse First Boston and Citibank, according to a syndicate document.

Proceeds will be used for acquisition financing.

All other details on the loan are to be determined.

On July 21, Express Scripts announced that it would acquire Orlando, Fla.-based pharmaceutical company Priority Healthcare Corp. in a cash transaction for $28 per share, or $1.3 billion.

The transaction is expected to close in the fourth quarter, subject to customary closing conditions, approval of Priority's stockholders and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Express Scripts is a St. Louis-based independent pharmacy benefits manager.

© 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.