Confluent to launch $80 million incremental first-lien term loan

By Paul A. Harris

Portland, Ore., Oct. 26 – Confluent Health, LLC plans to launch an $80 million fungible, incremental first-lien term loan B due July 24, 2026 (existing ratings B3/B-) during a lender call set to begin at 2 p.m. ET on Tuesday, according to a market source.

The deal features a 500 basis points spread to Libor with no Libor floor. The spread, maturity and floor are the same as those in the existing loan.

The deal is offered at an original issue discount of 98.79 and comes with six months of soft call protection.

Deutsche Bank has the books.

The Louisville, Ky.-based health care services provider plans to use the proceeds to fund acquisitions.

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