Wolverine Healthcare talks $525 million term B at Libor plus 425 bps

By Sara Rosenberg

New York, May 11 - Wolverine Healthcare Analytics launched its $525 million seven-year term loan B on Friday morning with price talk of Libor plus 425 basis points with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.

The loan has 101 soft call protection for one year, the source said.

The company's $575 million credit facility also includes a $50 million five-year revolver.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and UBS Securities LLC are the lead banks on the deal.

Proceeds will be used to fund the buyout of the company by Veritas Capital for $1.25 billion in cash from Thomson Reuters.

Closing is expected in the next few months, subject to regulatory approval and customary conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.

Wolverine Healthcare, formerly Thomson Reuters Healthcare, is a provider of data, analytics and performance benchmarking services to hospitals, health systems, employers, health plans, government agencies and health care professionals.

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