Kindred Healthcare to launch $787.5 million term loan B on Tuesday

By Sara Rosenberg

New York, May 13 - Kindred Healthcare Inc. is scheduled to hold a lender call at 3 p.m. ET on Tuesday to launch a $787.5 million term loan B due June 2018, according to a market source.

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

Price talk on the term loan B is Libor plus 325 basis points to 350 bps with a 1% Libor floor and a par offer price, the source said.

The B loan has 101 soft call protection for six months.

Proceeds will be used to refinance an existing $687.8 million term loan B due June 2018 and a $99.8 million incremental term loan due June 2018.

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

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