Stratose talks $265 million first-lien loan at Libor plus 500-525 bps

By Sara Rosenberg

New York, Jan. 7 – Stratose Inc. launched on Thursday its $265 million first-lien term loan with price talk of Libor plus 500 basis points to 525 bps with a 1% Libor floor and an original issue discount of 98.5 to 99, according to a market source.

SunTrust Robinson Humphrey Inc., Capital One and BMO Capital Markets are the leads on the deal.

Proceeds will be used to refinance existing debt and fund an add-on acquisition.

For this transaction, the company is also getting a second-lien term loan that was privately placed.

Closing is expected late this month.

Stratose is an Atlanta-based provider of health care cost containment solutions for medical, dental and workers’ compensation payers, third-party administrators, self-funded entities and risk-bearing providers.

© 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.