ATI Physical Therapy launches $170 million facility with 98 OID

By Sara Rosenberg

New York, Feb. 24 - ATI Physical Therapy launched its $170 million credit facility on Wednesday morning with an original issue discount of 98, according to a market source.

As was previously reported, the facility is being talked at Libor plus 500 basis points with a 2% Libor floor.

Tranching on the deal is comprised of a $25 million revolver and a $145 million term loan.

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

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

Senior leverage is around 3.4 times and total leverage is around 4.6 times.

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

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