MedSolutions to launch $435 million credit facility on Monday

By Sara Rosenberg

New York, June 6 - MedSolutions is scheduled to hold a bank meeting on Monday to launch a $435 million credit facility, according to a market source.

SunTrust Robinson Humphrey Inc. and Fifth Third Securities Inc. are the lead banks on the deal.

The facility consists of a $75 million five-year revolver and a $360 million six-year covenant-light term loan B, the source said.

Amortization on the B loan is 5% per annum.

Proceeds will be used to refinance existing debt and fund a dividend.

MedSolutions is a Franklin, Tenn.-based provider of medical cost management services.

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