Global Healthcare talks $123 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, June 25 – Global Healthcare Exchange LLC (GHX Ultimate Parent Corp.) launched on Monday a $123 million add-on term loan due 2024 that is talked with an original issue discount of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 325 basis points with a 25 bps step-down at 4.5 times net first-lien leverage and a 1% Libor floor, which matches existing term loan pricing, the source said.

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

Proceeds will be used to repay second-lien term loan borrowings.

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

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