HealthPort cuts spread on $325 million term loan to Libor plus 500 bps

By Sara Rosenberg

New York, Nov. 13 – HealthPort (CT Technologies Intermediate Holdings and Smart Holdings Corp.) reduced pricing on its $325 million seven-year first-lien covenant-light term loan to Libor plus 500 basis points from Libor plus 550 bps, according to a market source.

Also, the original issue discount on the term loan was tightened to 99 from 98˝, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for six months.

In addition to the term loan, the company’s $355 million credit facility (B2/B) includes a $30 million revolver.

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

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

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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