AlliancePharma entered into a new credit facility of approximately $14.5 million with National Bank of Canada (NBC) in connection with the previously announced acquisitions of Pharmapar and Agence L.I.V.

The five-year secured term loan bears interest at prime rate plus a spread varying between 0.50% to 1.70% per annum based on certain leverage ratios. Proceeds from the loan will be used to finance previously announced acquisitions, repay existing indebtedness and transaction fees.

“We are pleased with the confidence shown by NBC and its dedicated Health Group. This credit facility helps to set the stage for continued organic and M&A growth for the company,” said Bruno Dumais, chief financial officer.

AlliancePharma is a solution and service provider to the pharmaceutical market.