Global Healthcare to launch $488 million term loan on Thursday

By Sara Rosenberg

New York, June 6 – Global Healthcare Exchange LLC is scheduled to hold a bank meeting at 10:30 a.m. ET on Thursday to launch a $488 million seven-year first-lien term loan, according to a market source.

J.P. Morgan Securities LLC, Jefferies LLC, Credit Suisse Securities (USA) LLC, Golub Capital and Goldman Sachs Bank USA are the leads on the deal.

Price talk on the first-lien term loan is Libor plus 350 basis points to 375 bps with a 1% Libor floor and an original issue discount of 99.5, the source said.

The first-lien term loan has 101 soft call protection for six months.

The company is also getting a $197 million privately placed second-lien term loan that is being led by Ares.

Proceeds will be used to help fund the buyout of the company by Temasek. Thoma Bravo will retain a minority position in the company.

Global Healthcare Exchange is a Louisville, Colo.-based provider of cloud-based health care supply chain management technology and services.

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