Surgery Partners to launch $2.1 billion credit facilities on Tuesday

By Sara Rosenberg

New York, Nov. 27 – Surgery Partners Inc. (Surgery Center Holdings Inc.) is scheduled to hold a lender call at 2 p.m. ET on Tuesday to launch $2,103,750,000 of credit facilities, according to a market source.

Jefferies LLC, Barclays, JPMorgan Chase Bank, BofA Securities Inc., Wells Fargo Securities LLC, Capital One, RBC Capital Markets, Mizuho, Fifth Third, SVB, KKR Capital Markets and SMBC are the arrangers on the deal.

The facilities consist of a $703.75 million five-year revolver and a $1.4 billion seven-year first-lien term loan, the source said.

Price talk on the term loan is SOFR plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 99, the source continued.

The term loan has 101 soft call protection for six months.

Expected term loan ratings are Ba3/B.

Commitments are due at 2 p.m. ET on Dec. 5, the source added.

Proceeds will be used to refinance the company’s existing credit facilities.

Surgery Partners is a Nashville, Tenn.-based operator of short-stay surgical facilities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.