Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for CityMD > News item |
CityMD cuts spread on $891 million term loan to Libor plus 375 bps
By Sara Rosenberg
New York, Jan. 13 – CityMD (WP CityMD Bidco LLC) reduced pricing on its $891 million covenant-lite first-lien term loan (B-) due August 2026 to Libor plus 375 basis points from Libor plus 400 bps, according to a market source.
As before, the term loan has a 0.75% Libor floor, a par issue price and 101 soft call protection for six months.
Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, ING, Mizuho, Jefferies LLC, KeyBanc Capital Markets and Truist are the lead arrangers on the deal.
Commitments remained due at 5 p.m. ET on Wednesday, the source added.
Proceeds will be used to reprice an existing term loan down from Libor plus 450 bps with a 1% Libor floor.
CityMD is an outpatient-focused physician group.
© 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.