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Kindred Healthcare launches $599 million loan at Libor plus 450 bps
By Sara Rosenberg
New York, Feb. 1 – Kindred Healthcare LLC was scheduled to hold a lender call at 2 p.m. ET on Monday to launch a $599 million term loan that is talked at Libor plus 450 basis points with a 0% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan down from Libor plus 500 bps with a 0% Libor floor.
Commitments are due at noon ET on Friday, the source added.
Kindred Healthcare is a Louisville, Ky.-based health care services company.
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