Sound Physicians lifts term loan B to $200 million, tightens pricing

By Sara Rosenberg

New York, May 13 – Sound Physicians upsized its add-on term loan B (Ba3/B) due June 2025 to $200 million from $150 million and lowered pricing to Libor plus 300 basis points from Libor plus 325 bps, according to a market source.

Also, the original issue discount on the term loan was changed to 99.25 from 98.5, the source said.

As before, the term loan has a 0.5% Libor floor, 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA and Credit Suisse Securities (USA) LLC are the bookrunners on the deal.

Recommitments were scheduled to be due at 2 p.m. ET on Thursday, the source added.

Proceeds will be used to fund acquisitions and other general corporate purposes.

Sound Physicians is a Tacoma, Wash.-based provider of physician staffing services to hospitals.

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