Concentra to launch $560 million credit facility during June 4 week

By Sara Rosenberg

New York, May 25 - Concentra Inc. is planning on holding a bank meeting during the week of June 4 to launch its proposed $560 million credit facility, according to a company spokesman.

Citigroup, UBS, Bank of America and JPMorgan are the lead banks on the deal, with Citi the left lead.

The facility consists of a $75 million revolver, a $330 million first-lien term loan and a $155 million second-lien term loan, the spokesman said.

The deal is linked to Viant Holdings Inc.'s spin-off from Concentra.

Under the transaction, Concentra will contribute its Network Services business to Viant in exchange for additional shares of Viant common stock, $185 million of Viant notes and about $260 million in cash.

Concentra would retire its current senior secured debt using the cash proceeds received from Viant and a portion of the cash proceeds borrowed under its new facility, and pay a cash dividend to its stockholders of about $350 million.

Concentra is a Dallas-based provider of occupational health care services and specialized cost management services.

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