Merck reveals pricing on $8.5bn Schering loan
Merck, the US drugs group, has released the full details of its $8.5bn acquisition loan in an SEC filing. The deal, solely underwritten by JPMorgan, is split between a $3bn one year bridge loan, a $3bn one year asset-sale revolver, a $1bn one year incremental revolver, and a $1.5bn five year tranche that replaces Merck’s existing backstop facility.
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