EyeSouth to launch $455 million credit facilities on Wednesday

By Sara Rosenberg

New York, March 2 – EyeSouth Partners (SCP Eye Care Services LLC) is scheduled to hold a bank meeting at 2 p.m. ET on Wednesday to launch $455 million of credit facilities, according to a market source.

Jefferies LLC is the arranger on the deal.

The facilities consist of a $15 million five-year revolver, a $375 million seven-year senior secured first-lien term loan and a $65 million 18-month commitment period delayed-draw first-lien term loan, the source said.

The funded and delayed-draw term loans will be sold as a strip.

Included in the term loan is 101 soft call protection for six months.

The delayed-draw ticking fee is half the margin from days 46 to 90 and the full margin thereafter.

Proceeds will be used to refinance existing debt and finance near-term acquisitions.

EyeSouth is an Atlanta-based provider of practice management services to a network of affiliated ophthalmology practices, specializing in essential treatments for eye health conditions.

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