Teladoc breaks above OID; Viewpoint releases guidance; primary calendar continues to build

By Sara Rosenberg

New York, July 6 – Teladoc Inc.’s credit facilities allocated and made their way into the secondary market on Thursday, with the term loan quoted above its original issue discount.

Meanwhile, in the primary market, Viewpoint Inc. came out with price talk on its first-and second-lien term loans with launch.

Also, Duravant LLC (Engineered Machinery Holdings Inc.), Hayward Industries Inc. and A Place for Mom jumped onto the near-term primary calendar.

Teladoc’s credit facilities began trading on Thursday, with the $175 million five-year term loan seen at 99˝ bid, par ˝ offered, according to a trader.

Pricing on the term loan is Libor plus 725 basis points with a 1% Libor floor and it was sold at an original issue discount of 99. The debt has hard call protection of 103 in year one, 102 in year two and 101 in year three.

The company’s $185 million of senior secured credit facilities also includes a $10 million three-year revolver.

Jefferies LLC is leading the deal that will be used to help fund the acquisition of Best Doctors for $375 million in cash and $65 million of Teladoc common stock and to refinance existing debt.

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