Alliance HealthCare to launch $30 million incremental loan on Tuesday

By Sara Rosenberg

New York, June 8 – Alliance HealthCare Services Inc. is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $30 million incremental first-lien term loan due June 3, 2019, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The incremental term loan is talked at Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99.5, the source said.

It is expected that the incremental loan will be fungible with the company’s existing $477 million first-lien term loan that is priced at Libor plus 325 bps with a 1% Libor floor.

Covenants include a maximum total leverage ratio.

Proceeds will be used to repay revolver borrowings and add cash to the balance sheet.

Commitments are due on June 16, the source added.

Alliance HealthCare is a Newport Beach, Calif.-based provider of advanced outpatient diagnostic imaging and radiation therapy service.

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