One Call launches $395 million add-on first-lien loan at OID of 99

By Sara Rosenberg

New York, Dec. 4 - One Call Care Management launched on Wednesday its fungible $395 million add-on first-lien term loan with original issue discount talk of 99, according to market sources.

Pricing on the 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.

Commitments are due at 5 p.m. ET on Tuesday, sources added.

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.

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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