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Cooper Cos. aims to close $750 million credit facility next week
By Sara Rosenberg
New York, Dec. 5 - Cooper Cos. Inc. plans to close on its new $750 million credit facility on Dec. 13, according to a market source.
KeyBank is the lead bank on the deal.
The facility consists of a $250 million term loan A and a $500 million revolver, with both tranches priced with an interest rate of Libor plus 125 basis points, the source said.
Proceeds will be used to refinance the company's existing credit facility that contained a revolver, a term loan A and a term loan B.
The deal was launched into syndication with a bank meeting on Nov. 10.
At close, total leverage will be 3.75 times.
Cooper Cos. is a Pleasanton, Calif., health care products company.
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