McGaw Hopes to Refinance Debt
McGaw Inc., which makes intravenous solutions for hospitals and home health care, is seeking to raise $150 million to refinance its debt and pay for expansion.
According to documents filed with the Securities and Exchange Commission earlier this week, the privately held company will offer $100 million in seven-year notes and try to raise $50 million more through a private placement of debt. It is also seeking a $30-million line of credit.
“They are refinancing their bank debt to obtain greater financial flexibility to implement their growth strategy,” said Richard A. Fink, a Newport Beach attorney who represents McGaw.
Among other goals, the firm hopes to strengthen its position as a leading supplier in the lucrative home health-care market, to distribute new products and to enter the international market, he said.