JPMorgan and Lehman Brothers last Thursday launched syndication of a $1.5 billion deal for Omnicare. The facility consists of a five-year, $800 million revolver and a five-year, $700 million term loan. The credit carries pricing of LIBOR plus 17.5 basis points undrawn and LIBOR plus 75 basis points drawn. The term loan is priced at LIBOR plus 75 basis points drawn. The facility will be used to pay for the acquisition of NeighborCare, which closed July 28.
The Covington, Ky.-based company provides pharmaceutical care to senior citizens. Calls to the company were not returned.