Hospice Compassus $180 million term loan talked at Libor plus 475 bps

By Sara Rosenberg

New York, Dec. 4 – The $180 million six-year term loan B being shopped by Hospice Compassus and Life Choice Hospital is being talked at Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

Included in the term loan is 101 soft call protection for six months.

The company’s $210 million credit facility also provides for a $30 million five-year revolver.

GE Capital Markets, BMO Capital Markets Corp. and CIT are the co-arrangers on the deal.

Proceeds will be used to help fund the buyout of Hospice Compassus and Life Choice Hospital by Formation Capital and Audax, according to a market source.

Other funds for the buyout will come from $90 million of senior unsecured notes that have been privately placed.

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