Medical Depot launches $40 million incremental term loan at 99.5 OID

By Sara Rosenberg

New York, Aug. 9 – Medical Depot Inc. launched on Tuesday its $40 million incremental term loan due September 2019 with original issue discount talk of 99.5, according to a market source.

Pricing on the incremental term loan is Libor plus 425 basis points with a 1% Libor floor, which matches pricing on the existing $220 million term loan.

Capital One is the lead on the deal.

Proceeds will be used to fund a tack-on acquisition and for general corporate needs, the source added.

Medical Depot (doing business as Drive DeVilbiss Healthcare) is a Port Washington, N.Y.-based maker of medical equipment, including mobility, respiratory, bath and personal care, sleep, accessibility and rehabilitation products.

© 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.