Eversana increases first-lien term loan amount, updates pricing

By Sara Rosenberg

New York, Nov. 23 – Eversana (LSCS Holdings Inc.) upsized its seven-year first-lien term loan to $725 million from $690 million and set pricing at Libor plus 450 basis points, the low end of the Libor plus 450 bps to 475 bps talk, according to a market source.

Also, the original issue discount on the first-lien term loan was tightened to 99.5 from 99.

Additionally, pricing on the company’s $290 million eight-year second-lien term loan firmed at Libor plus 800 bps, the high end of the Libor plus 775 bps to 800 bps talk, the source said.

The first-lien term loan still has a 0.5% Libor floor and 101 soft call protection for six months, and the second-lien term loan still has a 0.5% Libor floor, a discount of 98.5 and hard call protection of 102 in year one and 101 in year two.

The company’s now $1.105 billion of senior secured credit facilities, up from $1.07 billion, provide for a $90 million five-year revolver as well.

Jefferies LLC, KeyBank Capital Markets and RBC Capital Markets are the bookrunners on the deal.

Recommitments were scheduled to be due at 3 p.m. ET on Tuesday, the source added.

Proceeds will be used to fund the acquisition of Intouch Group.

Closing is expected by the end of the year.

Eversana is a provider of global services to the life sciences industry. Intouch is an agency network serving the pharmaceutical industry.

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