HealthPort to launch incremental term loan, repricing on Tuesday

By Sara Rosenberg

New York, May 18 – HealthPort Inc. (CT Technologies Intermediate Holdings and Smart Holdings Corp.) is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $155 million first-lien incremental term loan due December 2021 and a repricing of its existing $324.2 million first-lien term loan due December 2021, according to a market source.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Jefferies Finance LLC are the leads on the incremental term loan, and Credit Suisse is the lead on the repricing.

Price talk on the incremental term loan and the repricing is Libor plus 425 basis points with a 1% Libor floor, the source said.

The incremental term loan will be offered at an original issue discount of 99.5, and the repricing will be offered at par.

All of the first-lien term loan debt will include 101 soft call protection for six months, the source continued.

Proceeds from the incremental term loan will be used to fund the acquisition of IOD Inc., a health information management company, and the repricing will take the existing term loan pricing down from Libor plus 500 bps with a 1% Libor floor.

Commitments are due at 5 p.m. ET on May 26, the source added.

Closing on the acquisition is expected this quarter, subject to customary regulatory approvals and conditions.

HealthPort is an Alpharetta, Ga.-based provider of medical information access management and compliance services to health care organizations.

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