ATI Physical Therapy to launch $170 million facility on Wednesday

By Sara Rosenberg

New York, Feb. 22 - ATI Physical Therapy is scheduled to hold a bank meeting on Wednesday to launch its proposed $170 million credit facility, according to a market source.

Barclays and GE Capital are the lead banks on the deal, with Barclays the left lead.

The facility consists of a $25 million revolver and a $145 million term loan, with unofficial talk on the tranches being Libor plus 500 basis points with a 2% Libor floor, the source said.

The original issue discount on the term loan is still to be determined, the source added.

Proceeds will be used to help fund the buyout of the company by GTCR Golder Rauner LLC.

ATI Physical Therapy is a Bolingbrook, Ill.-based rehabilitation provider.

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