Greenway launches $530 million term loan at Libor plus 500-525 bps

By Sara Rosenberg

New York, Jan. 31 – Greenway Health LLC launched on Tuesday its $530 million seven-year covenant-light 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 99, according to a market source.

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

The company’s $560 million credit facility (B-) also includes a $30 million five-year revolver.

Jefferies Finance LLC, RBC Capital Markets and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Commitments are due on Feb. 14, the source added.

Proceeds will be used to refinance existing debt.

Greenway Health is a Carrollton, Ga.-based provider of clinical, financial, administrative and connectivity information solutions to physician practices.

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