One Call Care to launch $1.25 billion in term loans on Tuesday

By Sara Rosenberg

New York, Nov. 8 - One Call Care Management will hold a bank meeting at 10 a.m. ET on Tuesday to launch $1,245,000,000 in term loans, according to a market source.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc., RBC Capital Markets, Morgan Stanley Senior Funding Inc. and Guggenheim are the lead banks on the deal.

The debt consists of an $825 million seven-year covenant-light first-lien term loan and a $420 million eight-year covenant-light second-lien term loan, the source said.

Proceeds will be used to fund the buyout of the company by Apax Partners from Odyssey Investment Partners.

Closing is expected this quarter.

One Call is a Parsippany, N.J.-based provider of specialized cost containment services to the workers' compensation industry.

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