Merge Healthcare sets Wednesday launch for $270 million of credit facilities via Jefferies

By Paul A. Harris

Portland, Ore., April 1 - Merge Healthcare plans to launch $270 million of credit facilities at a bank meeting set for 1:30 p.m. ET on Wednesday, according to a market source.

The deal is comprised of a $20 million five-year revolver and a $250 million six-year term loan.

Jefferies & Co. is leading the transaction.

Moody's Investors Service assigns its B2 corporate credit rating to the company and to its existing senior secured notes. Standard & Poor's assigns its B corporate credit rating to the company and rates the secured notes at B+.

The Chicago-based company plans to use the proceeds to refinance $252 million of its 11¾% secured notes due 2015.

Merge Healthcare is an enterprise imaging-solutions provider focusing on software for the storage and sharing of medical images.

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