Harden Healthcare launches $150 million term B at Libor plus 550 bps

By Sara Rosenberg

New York, April 9 - Harden Healthcare launched on Tuesday its $150 million term loan B with price talk of Libor plus 550 basis points with a 1.25% Libor floor and an original issue discount of 98 to 99, according to a market source.

The term loan B has 101 soft call protection for one year, the source said.

The company's $190 million senior secured credit facility also includes a $40 million revolver.

Commitments are due at 5 p.m. ET on April 19, the source added.

Barclays, Bank of America Merrill Lynch, CIT and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance an existing credit facility and for general corporate purposes.

Harden Healthcare is an Austin, Texas-based provider of post-acute health care services.

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