LifePoint launches $3.12 billion term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, Jan. 8 – LifePoint Health Inc. launched on its call on Wednesday a $3.115 billion senior secured term loan B (B1/B+) due November 2025 with price talk of Libor plus 400 basis points with a 0% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Citigroup Global Markets Inc. is the lead arranger on the deal and the administrative agent.

Commitments are due at 5 p.m. ET on Jan. 15, the source continued.

Proceeds will be used to reprice an existing term loan B down from Libor plus 450 bps.

Currently, the existing term loan B is sized at $3.515 billion, but, with the repricing, there will be a $400 million paydown of the debt, the source added.

MFN on the repriced loan will be based on the original pricing for six months.

Closing is expected on Jan. 17.

LifePoint is a Brentwood, Tenn.-based health care provider.

© 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.