Creditflux Newsletter

Medical care firm Fresenius announced on Friday the successful completion of the upsizing and extension of its senior secured credit facility. The refinancing of its revolving and term loan A facility was well received and saw the company upsize these facilities by $250 million to a new larger total of $2.6 billion.

The new agreement was extended from 31 March 2011 to 31 March 2013, bringing these facilities into line with the maturity date of the company's existing $1.5 billion term loan B.

The double B rated German firm says the facilities are to be used for general corporate purposes and working capital. Fresenius debt is owned by 53% of US CLOs and 24% of European deals according to CLO Master.