Bergen Brunswig Gets Access to $450 Million

Drug wholesaler Bergen Brunswig Corp. in Orange said Tuesday it has picked up $450 million in financing over five years by pledging its accounts receivable to a fund through GE Capital, which will sell securities based on the fund.

Bergen said in a press release that the arrangement, which replaces an existing $358-million program, provides less-expensive long-term access to capital and will allow Bergen to use the additional funding capacity to replace other, more costly outstanding debt.