Everise readies launch of $425 million term loan B for Tuesday

By Sara Rosenberg

New York, Nov. 6 – Everise (BCP V Everise Acquisition LLC) is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $425 million seven-year covenant-lite term loan B, according to a market source.

BMO Capital Markets, Standard Chartered, ING, Bank of Nova Scotia and Societe Generale are the arrangers on the deal.

Proceeds will be used for the acquisition of a roughly 47% equity stake in the company by Warburg Pincus from Brookfield Asset Management and other shareholders at a total enterprise value of about $1.03 billion. As part of the transaction, Everstone Group will exit its investment in the company.

Closing is expected by the end of the year.

Everise is a Plantation, Fla.-based health care services outsourcing company.

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