Confluent Health wraps $95 million term loan at SOFR plus 500 bps

By Sara Rosenberg

New York, Feb. 12 – Confluent Health LLC priced a non-fungible $95 million incremental covenant-lite first-lien term loan B due Nov. 30, 2028 (B3/B-) at pricing of SOFR plus 500 basis points with a 0.5% floor and an original issue discount of 97, according to a market source.

The incremental term loan has 101 soft call protection for six months, 0 bps CSA and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc., Macquarie Capital (USA) Inc. and Deutsche Bank Securities Inc. are the bookrunners on the deal. Deutsche Bank is the administrative agent.

Proceeds will be used for permitted acquisitions and/or to repay revolving loans.

Closing is expected in mid-February.

Confluent Health is a Louisville, Ky.-based provider of outpatient physical, employee screening and occupational therapy services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.