CCRR Parent talks $500 million term loan at Libor plus 450-475 bps

By Sara Rosenberg

New York, Feb. 18 – CCRR Parent launched on Thursday its $500 million term loan with price talk of Libor plus 450 basis points to 475 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

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

The company’s $550 million of credit facilities (B2/B) also include a $50 million revolver.

Citizens Bank and UBS Investment Bank are the joint lead arrangers on the deal.

Commitments are due on March 3, the source added.

Proceeds will be used to help fund the acquisitions by Cornell Capital LLC and Trilantic North America of trustaff Management Inc., CardioSolution and Stella.ai Inc. and merger of the three companies to create a healthcare staffing platform with a technology-driven approach.

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