Kindred Healthcare to launch $100 million incremental term B on Friday

By Sara Rosenberg

New York, Sept. 13 - Kindred Healthcare Inc. will hold a lender call at 2 p.m. ET on Friday to launch a $100 million incremental term loan B due June 1, 2018, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Pricing on the loan is Libor plus 375 basis points with a 1.5% Libor floor, in line with existing term loan pricing, the source said.

Original issue discount on the incremental debt is still to be determined.

Proceeds will be used to refinance borrowings under the company's existing ABL facility.

Kindred Healthcare is a Louisville, Ky.-based healthcare services company.

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