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Harden Healthcare firms discount on $150 million term B at 98
By Sara Rosenberg
New York, April 24 - Harden Healthcare finalized the original issue discount on its $150 million term loan B at 98, the wide end of the 98 to 99 talk, according to a market source.
Pricing on the term loan remained at Libor plus 550 basis points with a 1.25% Libor floor, and there is still 101 soft call protection for one year.
The company's $190 million senior secured credit facility also includes a $40 million revolver.
Allocations are expected either later this week or early next week, the source said.
Barclays, BofA 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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