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HealthCare Partners $145 million credit facility to launch Friday
By Sara Rosenberg
New York, Jan. 4 - HealthCare Partners Medical Group is scheduled to hold a bank meeting on Friday to launch its proposed $145 million credit facility, according to a market source.
Bank of America and CIBC are the lead banks on the deal.
The facility consists of a $10 million revolver and a $135 million six-year term loan talked at Libor plus 250 to 275 basis points, the source said.
Proceeds will be used for a recapitalization.
HealthCare Partners is a Torrance, Calif., provider of health insurance and operator of medical practices and clinics.
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