One Call Medical talks $415 million loan at Libor plus 500 to 525 bps

By Sara Rosenberg

New York, Aug. 1 - One Call Medical Inc. launched its $415 million seven-year covenant-light term loan on Wednesday with price talk of Libor plus 500 basis points to 525 bps with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The company's $465 million credit facility also includes a $50 million six-year revolver.

Commitments are due on Aug. 15, the source said.

Jefferies & Co. and GE Capital Markets are leading the deal.

Proceeds will be used to help fund the acquisition of MSC Care Management, a Jacksonville, Fla.-based provider of medical products and services to post-discharge and post-injury workers' compensation claimants.

Other funds for the acquisition will come from $210 million of unsecured debt that is being provided by GSO and equity.

The companies expect to complete the merger within the next 30 to 60 days subject to satisfaction of customary conditions.

One Call Medical is a Parsippany, N.J.-based provider of specialty services to insurance payers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.