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Surgical Specialties wraps $235 million term B at Libor plus 500 bps
By Sara Rosenberg
New York, May 7 – Surgical Specialties Corp. completed syndication of its $235 million six-year term loan B at pricing of Libor plus 500 basis points, the high end of the Libor plus 475 bps to 500 bps talk, according to a market source.
As before, the term loan has a 0% Libor floor and an original issue discount of 99.
The company’s $265 million of credit facilities also include a $30 million five-year revolver.
Capital One and SunTrust Robinson Humphrey Inc. are the joint bookrunners on the deal.
Proceeds will be used to refinance existing debt.
Surgical Specialties is a medical device company that markets surgical products.
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