Kinetic Concepts details repricing of $2.6 billion equivalent loans

By Paul A. Harris

Portland, Ore., Jan. 9 - Kinetic Concepts Inc. detailed the repricing of $2.6 billion equivalent of term loans (Ba3/BB-) on Thursday, according to a market source.

A $1,952,000,000 term loan E-1 due in May 2018 is set to reprice at a Libor spread of 300 basis points, reduced from 350 bps. The Libor floor remains unchanged at 1%.

A €246 million term loan E-1 due in May 2018 is set to reprice at a Euribor spread of 325 bps, reduced from 375 bps. The Euribor floor remains unchanged at 1%.

A $319 million term loan E-2 due in November 2016 is set to reprice at Libor plus 250 bps, reduced from 300 bps. The Libor floor remains unchanged at 1%.

All tranches are talked at par and feature 101 six-month soft calls.

Commitments are due on Wednesday.

Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, Goldman Sachs & Co., Credit Suisse Securities (USA) LLC, SunTrust Robinson Humphrey and UBS Investment Bank are the arrangers.

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

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