PharMerica receives $150 million more in borrowing capacity
PharMerica Corporation announced last week it had amended its credit agreement with Bank of America to increase its borrowing capacity by $150 million.
In addition to the revolving facility being increased by $60 million and term loan facility being increased by $90 million, the amended agreement increased the accordion feature with an incremental basket of up to $200 million, the pharmacy company said.
“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. “We appreciate the strong support of our lenders and their continued confidence in PharMerica.”