Daily News: April 25, 2014

Reuters: Barclays, Others Arrange $2.525B J&J Credit Facility

Reuters reported that Ortho-Clinical Diagnostics, a unit of Johnson & Johnson, plans to launch a $2.525 billion senior secured credit facility on April 28. This will finance, in part, its acquisition by Carlyle Group, sources told Reuters.

Reuters reported the loan package is split between a $350 million, five-year revolving credit facility and a $2.175 billion, seven-year term loan.

The credit facility is being arranged by lead left Barclays with Goldman Sachs, Credit Suisse, UBS and Nomura joining on the right, Reuters said. The article also noted that Johnson & Johnson is selling the clinical diagnostics business to Carlyle for $4.15 billion.

To read the full Reuters article, click here.