| NEW YORK, April 24
NEW YORK, April 24 Ortho-Clinical Diagnostics
Inc, a unit of Johnson & Johnson Inc, is planning to
launch April 28 a $2.525 billion senior secured credit facility
to finance, in part, its acquisition by Carlyle Group,
sources told Thomson Reuters LPC.
The loan package is split between a $350 million, five-year
revolving credit facility and a $2.175 billion, seven-year term
The credit facility is being arranged by lead left Barclays
with Goldman Sachs, Credit Suisse, UBS and Nomura joining on the
Johnson & Johnson is selling the clinical diagnostics
business to Carlyle for $4.15 billion.
A bank meeting is set for 2:30 p.m. ET. Carlyle Group did
not immediately return calls for comment.
In addition to the leveraged loan portion, the financing
package, as reported by Thomson Reuters LPC in January, is
expected to include $1.15 billion in senior notes, according to
OCD serves clinical laboratories and the transfusion
medicine community. The company provides tools for early
screening, diagnosing, monitoring and confirming diseases,
focused on supporting hospitals, laboratories and blood centers
The transaction is expected to close in the middle of 2014.
(Editing By Michelle Sierra and Jon Methven)