Global Healthcare Exchange to launch $400 million facility Wednesday

By Sara Rosenberg

New York, July 20 – Global Healthcare Exchange LLC is scheduled to hold a bank meeting at 10 a.m. ET on Wednesday to launch a $400 million credit facility, according to a market source.

SunTrust Robinson Humphrey Inc. is the lead on the deal.

The facility consists of a $25 million revolver and a $375 million seven-year term loan B, the source said.

Price talk on the term loan is Libor plus 450 basis points to 475 bps 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 and a total net leverage covenant.

Proceeds will be used to refinance existing debt.

Net total leverage is about 4.9 times, the source added.

Global Healthcare Exchange is a Louisville, Colo.-based provider of healthcare supply chain solutions.

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