ATI Physical ups $170 million facility pricing to Libor plus 550 bps

By Sara Rosenberg

New York, March 11 - ATI Physical Therapy increased pricing on its $170 million credit facility to Libor plus 550 basis points from Libor plus 500 bps and widened the original issue discount to 97 from 98, according to a market source.

In addition, call protection of 102 in year one and 101 in year two against refinancings and repricings was added to the term loan.

The 2% Libor floor on the facility was left unchanged.

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

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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