HealthPort to launch $355 million credit facility on Tuesday

By Sara Rosenberg

New York, Oct. 31 – HealthPort (CT Technologies Intermediate Holdings and Smart Holdings Corp.) is scheduled to hold a bank meeting at 12:30 p.m. ET on Tuesday to launch a $355 million credit facility, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The facility consists of a $30 million revolver and a $325 million seven-year first-lien covenant-light term loan, the source said.

Price talk on the term loan is Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 98½, the source continued.

The term loan has 101 soft call protection for six months.

Commitments are due on Nov. 18, the source added.

Proceeds will be used to help fund the buyout of the company by New Mountain Capital.

HealthPort is an Alpharetta, Ga.-based provider of release-of-information services for the health care industry.

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