Agiliti lifts term loan to $400 million, firms at SOFR plus 300 bps

By Sara Rosenberg

New York, April 4 – Agiliti Inc. upsized its incremental first-lien term loan due May 2030 to $400 million from $300 million and set pricing at SOFR plus 300 basis points, the low end of the SOFR plus 300 bps to 325 bps talk, according to a market source.

In addition, the original issue discount on the incremental term loan was revised to 99.25 from 99, the source said.

The term loan still has a 0% floor, 101 soft call protection for six months, and a ticking fee of half the margin from days 46 to 90 and the full margin thereafter.

JPMorgan Chase Bank is the lead on the deal.

Recommitments were scheduled to be due at 1 p.m. ET on Thursday, 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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