Agiliti flexes $150 million term loan to Libor plus 275 bps

By Sara Rosenberg

New York, Sept. 21 – Agiliti Inc. trimmed pricing on its $150 million incremental term loan to Libor plus 275 basis points from Libor plus 300 bps, according to a market source.

Furthermore, the original issue discount on the term loan was revised to 99.25 from 99.027, the source said.

The incremental term loan still has a 0% Libor floor.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used with cash on hand to fund the acquisition of Sizewise Rentals LLC, a Lenexa, Kan.-based manufacturer and distributor of specialty hospital beds, surfaces and patient handling equipment, in a stock purchase transaction valued at $230 million.

Closing is expected on Oct. 1, subject to customary conditions.

Agiliti is a Minneapolis-based essential service provider to the U.S. health care industry.

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