Mission Veterinary finalizes $250 million term loan at 99 OID

By Sara Rosenberg

New York, Oct. 29 – Mission Veterinary Partners firmed the original issue discount on its fungible $250 million incremental first-lien term loan (B3) at 99, the wide end of the 99 to 99.5 talk, according to a market source.

Pricing on the incremental first-lien term loan is Libor plus 400 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

The company is also getting a $225 million privately placed first-lien delayed-draw term loan (B3).

Golub Capital is the lead on the deal.

Proceeds will be used to fund acquisitions.

Mission Veterinary, formerly known as Midwest Veterinary, is a Novi, Mich.-based network of general practice animal hospitals.

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