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PharMerica secures additional $150M in credit

PharMerica Corp. negotiated a $150 million increase in an existing credit agreement with Bank of America NA.

The credit was secured in 2014 and comprised a $225 million term loan facility and a $310 million revolving credit facility.

Borrowings under the term loan facility have now been increased by $90 million with an extra $60 million available under the revolving credit facility.

The credit agreement continues to mature Sept. 17, 2019.

PharMerica CEO Greg Weishar said the additional lending capacity will help drive business diversification and "value-enhancing growth" in 2017.