Sunrise Medical launches $290 million credit facility

By Sara Rosenberg

New York, March 31 - Sunrise Medical Inc. launched its $290 million credit facility on Thursday, according to a market source. Deutsche Bank is the lead bank on the deal.

The facility consists of a $45 million revolving credit facility talked at Libor plus 275 basis points, a $165 million term loan B talked at Libor plus 275 basis points and an $80 million second-lien term loan talked at Libor plus 600 basis points, the source said.

The deal was previously known to be March business but a specific date for the launch and the structure of the facility was not available until recently.

Proceeds will be used to refinance existing debt and fund a dividend payment.

Sunrise Medical, a portfolio company of Vestar Capital Partners and Park Avenue Equity Partners, is a Carlsbad, Calif., manufacturer of homecare and extended care products.

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