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Confluent Health shops amendment to transition term loan B to SOFR
By Sara Rosenberg
New York, June 2 – Confluent Health LLC is seeking a negative consent amendment to its $541 million term loan B due November 2028 (B3/B-) to shift to SOFR from Libor and add a credit spread adjustment, according to a market source.
The CSA being offered is 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, the source said.
With this amendment, pricing on the term loan will go to SOFR+CSA plus 400 basis points from Libor plus 400 bps.
Deutsche Bank Securities Inc. is the lead on the deal.
The amendment deadline is 5 p.m. ET on Thursday, the source added.
Confluent Health is a Louisville, Ky.-based provider of outpatient physical, employee screening and occupational therapy services.
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