Kinetic Concepts seeks repricing of term loan C-1 and C-2 debt

By Sara Rosenberg

New York, June 4 - Kinetic Concepts Inc. launched a repricing of its $1.61 billion term loan C-1 due May 4, 2018 to Libor plus 350 basis points with a 1% Libor floor from Libor plus 425 bps with a 1.25% Libor floor, according to sources.

The company is also looking to reprice its $321 million term loan C-2 due Nov. 4, 2016 to Libor plus 300 bps with a 1% Libor floor from Libor plus 375 bps with a 1.25% Libor floor, sources said.

And, a repricing of the €247 million term loan C-1 due May 4, 2018 is being shopped at Euribor plus 375 bps with a 1% floor, down from current pricing of Euribor plus 450 bps with a 1.25% floor.

All of the repriced loans are offered at par and have 101 soft call protection for six months, sources continued.

Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, UBS Securities LLC and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

Kinetic Concepts is a San Antonio-based medical technology company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.