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HealthSouth to launch term loan B repricing Thursday
By Sara Rosenberg
New York, Feb. 20 - HealthSouth Corp. is scheduled to hold a conference call on Thursday to launch a proposed repricing of its $2.04 billion term loan B, according to a market source.
JPMorgan is the lead bank on the deal.
Under the proposal, the company is looking to take the spread down on the term loan B to Libor plus 275 basis points, with 101 soft call protection for one year, the source said. Currently, the term loan B carries an interest rate of Libor plus 325 bps with a step down to Libor plus 275 bps if ratings improve.
HealthSouth is a Birmingham, Ala., provider of ambulatory surgery and rehabilitative health care services.
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