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MCCI Medical increases revolver size to $150 million on strong demand
By Sara Rosenberg
New York, April 22 - MCCI Medical upsized its revolving credit facility to $150 million from $100 million as the deal was well oversubscribed, according to a market source.
Pricing on the revolver, as well as on a $225 million five-year term loan, is Libor plus 250 basis points with no Libor floor.
Fifth Third Securities Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the lead banks on the now $375 million credit facility, up from $325 million.
Proceeds will be used to refinance existing debt.
Closing is expected to occur on Wednesday, the source added.
MCCI is a Miami-based operator of medical centers.
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