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HealthTronics launches $175 million credit facility
By Sara Rosenberg
New York, Feb. 17 - HealthTronics Inc. held a bank meeting on Thursday to launch its proposed $175 million senior secured credit facility (Ba3/BB-), according to a market source. JPMorgan is the lead bank on the deal.
The facility consists of a $125 million six-year term loan talked at Libor plus 250 basis points and a $50 million five-year revolver talked at Libor plus 250 basis points, the source said.
Proceeds will be used to refinance existing bank debt and unsecured senior subordinated notes.
HealthTronics is an Austin, Texas, provider of healthcare services, primarily to the urology community, and manufacturer of medical devices and specialty vehicles used for the transport of high technology medical and broadcast & communications equipment.
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