Quantum Health launches $300 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, June 15 – Quantum Health Inc. was scheduled to hold a lender call at 2:30 p.m. ET on Tuesday to launch a $300 million covenant-lite first-lien term loan (B3/B-) due December 2027 that is talked at Libor plus 450 basis points with a 25 bps step-down at 4x first-lien net leverage, a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Credit Suisse Securities (USA) LLC is the lead arranger on the deal.

Commitments are due at noon ET on Thursday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 500 bps with a 0.75% Libor floor.

Quantum Health is a Columbus, Ohio-based consumer health care navigation and care coordination company.

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