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ATI Physical Therapy withdraws $570 million term loan from market
By Sara Rosenberg
New York, July 15 – ATI Physical Therapy (ATI Holdings Acquisition Inc.) pulled from the market its $570 million seven-year first-lien term loan (B1/B), according to a market source.
Talk on the term loan had been Libor plus 325 basis points to 350 bps with a 0.5% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.
Barclays was acting as the left bookrunner on the deal.
Proceeds were going to be used to refinance the company’s existing capital structure.
ATI is a Bolingbrook, Ill.-based outpatient physical therapy provider.
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