Immucor plans $50 million in new term loan debt via Citi and JPMorgan

By Sara Rosenberg

New York, Jan. 16 - Immucor Inc. has received a commitment for $50 million in additional term loans, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the lead banks on the deal.

Proceeds, along with $35 million of equity, will be used to fund the $85 million acquisition of Lifecodes, a provider of transplantation diagnostics, from Hologic Inc.

Pro forma net debt is 6.7 times, and net senior secured debt is 4.1 times.

Closing is expected this quarter, subject to customary conditions, including applicable regulatory approvals.

Immucor is a Norcross, Ga.-based provider of automated instrument-reagent systems to the blood transfusion industry.

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