Compassus updates price talk on incremental term loan, adds repricing

By Sara Rosenberg

New York, Feb. 10 – Compassus LLC trimmed price talk on its $150 million incremental term loan (B2) to a range of Libor plus 425 basis points to 450 bps from Libor plus 500 bps and revised original issue discount talk to a range of 99.5 to 99.75 from 99.5, according to a market source.

In addition, the Libor floor on the incremental term loan was changed to 0.75% from 1%.

The company also added a repricing of its existing $400 million term loan that is talked at Libor plus 425 bps to 450 bps with a 0.75% Libor floor and a par issue price, the source said.

BofA Securities Inc. is the lead on the deal.

Commitments continue to be due at noon ET on Friday, the source added.

Proceeds from the incremental term loan will be used to refinance existing notes due 2028, to fund a dividend and/or acquisitions and to pay related fees and expenses, and the repricing will take the existing term loan down from Libor plus 500 bps with a 1% Libor floor.

Compassus is a Nashville-based post-acute care company.

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