Kindred Healthcare firms discount on $100 million add-on term B at 97½

By Sara Rosenberg

New York, Sept. 19 - Kindred Healthcare Inc. finalized the original issue discount on its $100 million incremental term loan B due June 1, 2018 at 971/2, the tight end of the 97 to 97½ talk, according to a market source.

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

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

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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