Ciox Health to launch $720 million credit facilities on Tuesday

By Sara Rosenberg

New York, Nov. 30 – Ciox Health (CT Technologies Intermediate Holdings Inc.) will hold a lender call at 10 a.m. ET on Tuesday to launch $720 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA and Deutsche Bank Securities Inc. are the lead arrangers on the deal.

The facilities consist of a $50 million revolver and a $670 million five-year covenant-lite first-lien term loan, the source said.

Price talk on the term loan is Libor plus 525 basis points with a 1% Libor floor and an original issue discount of 99, the source continued.

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

Expected term loan ratings are B3/B-.

Commitments are due at 5 p.m. ET on Dec. 10, the source added.

Proceeds will be used to refinance existing debt.

Ciox, formerly known as HealthPort, is an Alpharetta, Ga.-based provider of tech-enabled clinical data exchange services.

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