National Renal Institutes $258 million facility to launch Tuesday

By Sara Rosenberg

New York, March 3 - National Renal Institutes Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $258 million senior credit facility, according to a market source.

RBC Capital Markets, Royal Bank of Scotland and Aries Management, which has agreed to provide the mezzanine financing and, therefore, was awarded a role in the loan, are the lead banks on the deal, with RBC the left lead.

The facility consists of a $40 million revolver and a $218 million term loan B, with price talk unavailable at this time, the source said.

Proceeds will be used to help fund the acquisition of over 100 dialysis clinics from Fresenius Medical Care Holdings Inc. and Renal Care Group for about $450 million in cash.

National Renal Institutes is a wholly owned subsidiary of Nashville, Tenn.-based DSI Holding Co. Inc., in which Centre Partners currently invests.

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