Amends credit agreement with Bank of America
LOUISVILLE, Ky. (Dec. 15, 2016) — Louisville-based PharMerica Corporation, a national provider of institutional pharmacy, specialty infusion and hospital pharmacy management services, today announced that it has successfully amended its existing credit agreement with Bank of America, N.A., as administrative agent, to increase the company’s borrowing capacity by approximately $150 million.
Under the terms of the amended credit agreement, the revolving facility increased by $60 million and the term loan facility increased by approximately $90 million. The amended credit agreement also increased the accordion feature, which now provides PharMerica with an incremental basket of up to $200 million. Indebtedness under the credit agreement continues to mature on Sept. 17, 2019.
“This expansion of our borrowing capacity will give PharMerica the financial flexibility to drive further business diversification and value-enhancing growth in 2017,” said Greg Weishar, PharMerica Corporation’s chief executive officer.