FHC Health launches $265 million add-on first-lien term loan

By Sara Rosenberg

New York, May 27 – FHC Health Systems Inc. (Beacon Health) held a lender call at 11 a.m. ET on Wednesday to launch a $265 million add-on first-lien term loan due Dec. 12, 2021, according to a market source.

UBS AG and Nomura are the joint bookrunners on the deal.

Price talk on the add-on term loan is Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99, the source said.

The spread and floor on the add-on loan matches existing first-lien term loan pricing.

All of the first-lien term loan debt will get 101 soft call protection for six months, the source added.

Proceeds from the add-on will be used to fund a dividend.

FHC Health is a Boston-based managed behavioral health care company.

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