Compassus sets incremental term loan, repricing at Libor plus 425 bps

By Sara Rosenberg

New York, Feb. 12 – Compassus LLC firmed pricing on its $150 million incremental term loan (B2) and repricing of its existing $400 million term loan at Libor plus 425 basis points, the low end of the Libor plus 425 bps to 450 bps talk, according to a market source.

In addition, the original issue discount on the incremental term loan finalized at 99.75, the tight end of the revised 99.5 to 99.75 talk and tighter than initial talk of 99.5, the source said.

The term loan debt still has a 0.75% Libor floor and the repricing still has a par issue price.

Previously in syndication, pricing on the incremental term loan was lowered from Libor plus 500 bps, the Libor floor was changed from 1% and the repricing of the existing term loan down from Libor plus 500 bps with a 1% Libor floor was added to the transaction.

BofA Securities Inc. is the lead on the deal.

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.

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

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