Medforth launches $1.05 billion term loan at Libor plus 325 bps

By Sara Rosenberg

New York, June 16 – Medforth launched on Wednesday its $1.05 billion term loan with price talk of Libor plus 325 basis points with a 0.5% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Macquarie Capital (USA) Inc., Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., TCG and Morgan Stanley Senior Funding Inc. are the leads on the deal.

Commitments are due on June 28, the source added.

Proceeds will be used to fund a recapitalization by the Carlyle Group.

Medforth is a New York-based educational institution, providing students medical degrees and veterinary degrees.

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