nThrive TSG talks $440 million term loan B at Libor plus 425-450 bps

By Sara Rosenberg

New York, Jan. 5 – nThrive TSG (MedAssets Software Intermediate Holdings Inc.) launched on Tuesday its $440 million seven-year covenant-lite first-lien term loan B with price talk of Libor plus 425 basis points to 450 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

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

Commitments are due at 5 p.m. ET on Jan. 19.

The company is also getting a $160 million second-lien term loan that is being privately placed.

Deutsche Bank Securities Inc., UBS Investment Bank, BMO Capital Markets, Jefferies LLC, Antares Capital, BNP Paribas Securities Corp. and Golub Capital are the bookrunners on the deal.

Proceeds will be used to help fund the buyout of the company by Clearlake Capital Group LP from nThrive Holdings LP.

nThrive TSG is a provider of health care revenue cycle management software-as-a-service solutions.

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