Agiliti to launch $300 million incremental term loan on Tuesday

By Sara Rosenberg

New York, March 25 – Agiliti Inc. is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch a $300 million incremental first-lien term loan due May 2030 (B2/B), according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Price talk on the incremental term loan is SOFR plus 300 basis points to 325 bps with a 0% floor and an original issue discount of 99, the source said.

The incremental term loan has 101 soft call protection for six months and has a ticking fee of half the margin from days 46 to 90 and the full margin thereafter.

Commitments are due at 5 p.m. ET on April 4, the source added.

Proceeds will be used to help fund the acquisition by Thomas H. Lee Partners LP, the company’s majority shareholder, of all Agiliti shares it does not already own for $10 per share in cash, implying an enterprise value of about $2.5 billion.

Closing is expected in the first half of this year, subject to customary conditions.

Agiliti is an Eden Prairie, Minn.-based essential service provider to the U.S. health care industry.

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