DuPage Medical talks $650 million term loan at Libor plus 325-350 bps

By Sara Rosenberg

New York, Feb. 24 – DuPage Medical Group (Midwest Physician Administrative Services LLC) launched on Wednesday its $650 million seven-year covenant-lite first-lien term loan with price talk of Libor plus 325 basis points to 350 bps with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.

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

The company’s $750 million of credit facilities (B2/B) also include a $100 million revolver.

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

Commitments are due at noon ET on March 5.

Proceeds will be used with balance sheet cash to refinance first- and second-lien term loans and pay a distribution.

DuPage is a Downers Grove, Ill.-based multi-specialty physician group.

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