Quantum Health finalizes $300 million term loan at 98.5 OID

By Sara Rosenberg

New York, Dec. 18 – Quantum Health Inc. firmed the original issue discount on its $300 million seven-year covenant-lite first-lien term loan at 98.5, the wide end of the 98.5 to 99 talk, according to a market source.

Pricing on the term loan remained at Libor plus 500 basis points with a 0.75% Libor floor.

The term loan has 101 soft call protection for six months.

The company’s $360 million of credit facilities (B3/B-) also include a $60 million revolver.

Credit Suisse Securities (USA) LLC, Jefferies LLC, UBS Investment Bank and Mizuho are the arrangers on the deal.

Recommitments were scheduled to be due at 11 a.m. ET on Friday, the source added.

Proceeds will be used to help fund a significant investment in the company by Warburg Pincus. Great Hill Partners, which invested in Quantum Health in 2017 and is the company’s current majority shareholder, will retain a significant stake.

Quantum Health is a Columbus, Ohio-based consumer health care navigation and care coordination company.

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