Alliance HealthCare shops $100 million add-on term loan at 99 OID

By Sara Rosenberg

New York, May 23 – Alliance HealthCare Services Inc. is seeking a $100 million add-on term loan that is talked at Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The add-on term loan has 101 soft call protection through October, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to fund the acquisition of e+CancerCare, a provider of cancer care services, from Kohlberg & Co. LLC and to refinance existing debt.

Commitments are due on May 30, the source added.

Alliance HealthCare is an Irvine, Calif.-based provider of advanced outpatient diagnostic imaging and radiation therapy service.

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