MyEyeDr. to launch $1.63 billion credit facilities on Thursday

By Sara Rosenberg

New York, July 17 – MyEyeDr. (MED ParentCo. LP) is set to hold a bank meeting at 10:30 a.m. ET on Thursday to launch $1,631,000,000 of senior secured credit facilities, according to a market source.

Jefferies LLC, Credit Suisse Securities (USA) LLC, Nomura, Golub Capital, KKR Capital Markets and Macquarie Capital (USA) Inc. are the lead arrangers on the deal.

The facilities consist of a $125 million five-year revolver, an $845 million seven-year first-lien term loan, a $211 million seven-year delayed-draw for 24 months first-lien term loan, a $360 million eight-year second-lien term loan and a $90 million eight-year delayed-draw for 24 months second-lien term loan, the source said.

The first-lien term loan has 101 soft call protection for six months and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to help fund the buyout of the company by Goldman Sachs Merchant Banking Division from Altas Partners and Caisse de depot et placement du Quebec.

Closing is expected in the third quarter, subject to customary conditions and regulatory approvals.

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.

© 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.