Bank of America, looking to take advantage of favorable conditions for health sector names, is considering an upsize on its bank deal for McKesson. A banker familiar with the deal said an increase of $250 million onto the originally planned $825 million is probable. B of A launched the 364-day rollover in mid-September with pricing at LIBOR plus 3/4%. "What you're seeing is defensive credits doing well," the banker added, noting staple consumer goods or health care as examples. He pointed to Church & Dwight and Kelso's joint venture, dubbed Armkel, which closed last week, as an example. A syndication official at B of A declined comment.
B of A Eyes Health Care Credit Upsize