The five-year transaction, which can be extended by as much as two years, was provided by 19 banks, according to a statement from the Darmstadt, Germany-based company. Merck arranged the transaction itself and proceeds will be used for general corporate purposes and growth projects, the company said.
Merck had a credit line due Oct. 2014 that paid an interest margin of 20 basis points more than the euro interbank offered rate, according to data compiled by Bloomberg.
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