SCP Health launches $619 million credit facilities to investors

By Sara Rosenberg

New York, Feb. 8 – SCP Health (Onex TSG Intermediate Corp.) was scheduled to hold a lender call at 2:30 p.m. ET on Monday to launch $619 million of credit facilities (B2/B), according to a market source.

Credit Suisse Securities (USA) LLC, Barclays, BMO Capital Markets, Deutsche Bank Securities Inc., Jefferies LLC and Truist are the lead arrangers on the deal.

The facilities consist of an $89 million revolver and a $530 million seven-year covenant-lite first-lien term loan, the source said.

Price talk on the term loan is Libor plus 425 basis points with a 0.75% Libor floor and an original issue discount of 99.5, the source continued.

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

Commitments are due at 5 p.m. ET on Feb. 17, the source added.

Proceeds will be used with balance sheet cash to refinance existing first- and second-lien term loans.

SCP Health is a Lafayette, La.-based provider of outsourced emergency medicine and hospital medicine services.

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