UBC secures new $150M credit facility

Jul 6 2010NewsGuard 100/100 Score

United BioSource Corporation (UBC), a global scientific and medical affairs organization, today announced that it had secured a new line of credit that provides the company with up to $150 million in additional financing for acquisitions and other significant growth investments. Wells Fargo, PNC Bank, Capital One and JPMorgan Chase participated in financing the new credit facility.

"At a time when financial institutions are more cautious and lending standards are increasingly stringent, we are extremely pleased that the capital markets have provided such a strong vote of confidence for UBC," said Ethan Leder CEO of UBC. "This capital will allow us to aggressively pursue our internal investments and targeted acquisition strategy."

SOURCE United BioSource Corporation

www.unitedbiosource.com

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