MyEyeDr. first-lien term loan frees to trade atop OID

By Sara Rosenberg

New York, July 17 – MyEyeDr. (MED ParentCo. LP) saw its first-lien term loan allocate and make its way into the secondary market on Friday bid above its original issue discount price.

The $80 million senior secured first-lien term loan (B3/B-) due August 2026 was quoted at 98½ bid, par ½ offered, a market source remarked.

Pricing on the term loan is Libor plus 625 basis points with a 1% Libor floor and it was sold at an original issue discount of 98. The debt has hard call protection of 102 in year one and 101 in year two.

During syndication, the spread on the term loan was lowered from Libor plus 650 bps and the discount finalized at the tight end of the 97 to 98 talk.

Jefferies LLC, Nomura, Golub Capital, KKR Capital Markets and Macquarie Capital (USA) Inc. are leading the deal that will be used for general corporate purposes.

MyEyeDr. is an optometry platform. The company is affiliated with Capital Vision Services LP, which provides management services to MyEyeDr. optometrists and its practices with financial, marketing, human resources and account services, along with managed care credentialing and claims processing.

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