MedSolutions launches $360 million term loan at Libor plus 400 bps

By Sara Rosenberg

New York, June 10 - MedSolutions launched its $360 million six-year covenant-light term loan B on Monday with price talk of Libor plus 400 basis points with a 1.25% Libor floor and an original issue discount of 99 to 991/2, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Amortization on the B loan is 5% per annum.

In addition to the term loan, the company's $435 million credit facility includes a $75 million five-year revolver.

Commitments are due on June 20, the source added.

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

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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