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MCCI sets spread on $155 million first-lien deal at Libor plus 450 bps
By Sara Rosenberg
New York, July 21 - MCCI Medical Group firmed pricing on its $155 million first-lien credit facility at Libor plus 450 basis points, the low end of the Libor plus 450 bps to 500 bps talk, according to a market source.
The facility consists of a $15 million revolver and a $140 million first-lien term loan.
As before, the debt has a 1.5% Libor floor and an original issue discount of 99.
GE Capital Markets and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.
The company is also getting a $40 million second-lien term loan that is not being syndicated.
Proceeds will be used to refinance existing debt and fund a dividend.
MCCI Medical Group is a Miami-based operator of medical centers.
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