ATI Physical talks $570 million term loan at Libor plus 325-350 bps

By Sara Rosenberg

New York, July 8 – ATI Physical Therapy (ATI Holdings Acquisition Inc.) launched on Thursday its $570 million seven-year first-lien term loan (B1/B) with price talk of Libor plus 325 basis points to 350 bps with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

Barclays is the left bookrunner on the deal and the administrative agent.

Commitments are due at noon ET on July 20, the source added.

Proceeds will be used to refinance the company’s existing capital structure.

ATI is a Bolingbrook, Ill.-based outpatient physical therapy provider.

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