Signant launches $980 million of term loans at SOFR plus 500 bps

By Sara Rosenberg

New York, April 20 – Signant Health (Bracket Intermediate Holding Corp.) launched on Thursday its $850 million five-year first-lien term loan and $130 million delayed-draw first-lien term loan with price talk of SOFR+10 basis points CSA plus 500 bps with one 25 bps leverage-based step-down, a 0.5% floor and an original issue discount of 96.5, according to a market source.

The delayed-draw term loan is available for six months and has ticking fees of half the margin for days 46 to 90 and the full margin thereafter.

Signant will pay half of the original issue discount on the delayed-draw term loan at close and the other half at funding, the source said.

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

The company’s $1.06 billion of credit facilities also include an $80 million revolver.

Jefferies LLC and Antares Capital are the bookrunners on the deal.

Commitments are due at 2 p.m. ET on May 2.

Proceeds will be used to refinance the company’s existing debt.

Signant is a Blue Bell, Pa., provider of clinical research technology and solutions for clinical trials.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.