HealthPort to launch $150 million credit facility on Tuesday

By Sara Rosenberg

New York, July 31 - HealthPort Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $150 million five-year credit facility, according to a market source.

GE Capital and NewStar are the lead banks on the deal.

The facility consists of a $20 million revolver and a $130 million term loan, with both tranches talked at Libor plus 500 basis points with a 3% Libor floor and an original issue discount of 98, the source said.

Proceeds will be used to fund an acquisition.

Other financing will come from $75 million of mezzanine debt that the company/sponsor - Abry Partners LLC - is arranging.

HealthPort is an Alpharetta, Ga., provider of health care information technology systems for physician practices, hospitals and community health centers.

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