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Cambrex secures $800M in loans

Cambrex Corp. entered into a credit agreement for a five-year $200 million term loan and a $600 million revolving credit facility.

Interest on the loans under the credit agreement will be calculated as either adjusted London interbank offered rate plus 1.25% to 2.00% or alternate base rate plus 0.25% to 1.00%, at Cambrex's option.

Wells Fargo Bank NA is acting as administrative agent for the credit agreement, as well as the lenders party thereto from time to time.

East Rutherford, N.J.-based life sciences company Cambrex recently completed its $252 million acquisition of Avista Pharma Solutions, a contract development, manufacturing and testing company.