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One Call Medical buyout credit facility sized at $88 million
By Sara Rosenberg
New York, Dec. 16 - One Call Medical Inc.'s proposed buyout financing credit facility is sized at $88 million, according to a market source.
The deal is comprised of a $15 million revolver and a $73 million term loan, with both tranches talked at Libor plus 575 basis points with a 2% Libor floor and an original issue discount of 98, the source said.
Bank of Ireland and GE Capital are the lead banks on the club-style deal with existing lenders and relationship lenders to the sponsor. There was no official launch for the transaction.
One Call Medical is being acquired by Odyssey Investment Partners LLC from TA Associates.
Completion of the transaction, which is expected before the end of the year, is subject to customary closing conditions.
One Call Medical is a Parsippany, N.J.-based medical cost containment company.
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