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Kindred lifts add-on term loan to $200 million, firms at 99 OID
By Sara Rosenberg
New York, Feb. 18 – Kindred Healthcare LLC upsized its add-on senior secured term loan to $200 million from $150 million and finalized the original issue discount at 99, the wide end of the 99 to 99.5 talk, according to a market source.
Pricing on the add-on term loan is Libor plus 500 basis points with a 0% Libor floor.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to repay revolving credit facility borrowings.
Kindred Healthcare is a Louisville, Ky.-based health care services company.
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