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Charles River refinances credit facilities, plans $500M debt offering

Wilmington, Mass.-based Charles River Laboratories International Inc. plans to offer $500 million in new debt in the form of senior notes.

The company also refinanced its existing $1 billion revolving credit facility due 2021 and $650 million term loan facility due 2021 with a new $1.55 billion revolving credit facility due 2023 and a new $750 million term loan facility due 2023, respectively.

Charles River, which provides drug discovery and nonclinical development services to companies, will use the net proceeds from the credit facilities to primarily finance its acquisition of MPI Research Inc.