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One Call to launch $395 million add-on first-lien loan on Wednesday
By Sara Rosenberg
New York, Dec. 3 - One Call Care Management will hold a call on Wednesday morning to launch a fungible $395 million add-on first-lien term loan, according to a market source.
Bank of America Merrill Lynch, Deutsche Bank Securities Inc., RBC Capital Markets, Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and Guggenheim are leading the deal.
Pricing on the first-lien term loan is Libor plus 400 basis points with a step-down to Libor plus 375 bps when first-lien senior secured leverage is 4.25 times and a 1% Libor floor.
The original issue discount on the add-on loan is not yet available.
Proceeds will be used to help fund the acquisition of Align Networks, a workers' compensation physical medicine network, from General Atlantic and the Riverside Co.
One Call is a Parsippany, N.J.-based provider of specialized cost containment services to the workers' compensation industry.
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