ExamWorks talks $1.7 billion first-lien loan at Libor plus 375 bps

By Sara Rosenberg

New York, Sept. 28 – ExamWorks launched on Tuesday its $1.7 billion seven-year first-lien term loan (B1/B) with price talk of Libor plus 375 basis points with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

Commitments are due at noon ET on Oct. 7, the source added.

The company is also getting a $540 million privately placed second-lien term loan.

BofA Securities Inc., Goldman Sachs Bank USA, Barclays, Deutsche Bank Securities Inc., Truist, Nomura, Jefferies LLC, BNP Paribas Securities Corp. and Societe Generale are the leads on the deal.

Proceeds will be used to help fund the buyout of the company by CVC Capital Partners. The company’s current owners, Leonard Green & Partners LP and GIC, will retain significant equity stakes in the business.

Closing is expected this year, subject to customary conditions and receipt of required regulatory approvals.

ExamWorks is an Atlanta-based provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance, record retrieval, document management and related services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.