Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alliance HealthCare Services Inc. > News item |
Alliance HealthCare to launch $530 million in term loans on Wednesday
By Sara Rosenberg
New York, Sept. 18 – Alliance HealthCare Services Inc. is scheduled to hold a lender call at 10:30 a.m. ET on Wednesday to launch $530 million in term loans, according to a market source.
J.P. Morgan Securities LLC is the lead bank on the deal.
The debt is split between a $380 million six-year first-lien term loan and a $150 million seven-year second-lien term loan, the source said.
Price talk on the first-lien term loan is Libor plus 425 basis points to 450 bps with a 1% Libor floor and an original issue discount of 99, and talk on the second-lien term loan is Libor plus 850 bps with a 1% Libor floor and a discount of 98.5, the source continued.
The first-lien term loan has 101 soft call protection for six months and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.
Proceeds will be used to refinance existing debt.
Commitments are due on Oct. 3, the source added.
Alliance HealthCare is an Irvine, Calif.-based provider of advanced outpatient diagnostic imaging and radiation therapy service.
© 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.