Bloomberg News

Immucor Said to Meet Lenders Tomorrow on $700 Million of Loans

August 01, 2011

Aug. 1 (Bloomberg) -- Immucor Inc. will meet with lenders tomorrow to discuss $700 million of loans it’s seeking to back its buyout by TPG Capital, according to a person familiar with the financing, who declined to be identified, because the meeting hasn’t been announced publicly.

The debt for the Norcross, Georgia-based developer and provider of products for the blood transfusion industry is split between a $100 million revolving line of credit and a $600 million term loan, according to a regulatory filing. Citigroup Inc. and JPMorgan Chase & Co. are arranging the loans, according to the filing.

In a revolving credit facility, money can be borrowed again once it’s repaid; in a term loan, it can’t.

Lisa Baker, a spokeswoman for Fort Worth, Texas-based TPG, declined to comment.

--Editors: Faris Khan, Richard Bedard

To contact the reporter on this story: Kristen Haunss in New York at khaunss@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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