American Medical talks $280 million term B at Libor plus 550-575 bps

By Sara Rosenberg

New York, March 10 – American Medical Technologies launched on Wednesday its $280 million six-year covenant-lite term loan B with price talk of Libor plus 550 basis points to 575 bps with a 0.75% Libor floor and an original issue discount of 98, according to a market source.

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

The company’s $320 million of credit facilities (B1/B-) also include a $40 million revolver.

Truist and Regions Bank are the leads on the deal.

Commitments are due on March 24, the source added.

Proceeds will be used to fund the acquisition of RestorixHealth, a White Plains, N.Y.-based wound care management company.

Closing is expected in the second quarter, subject to customary conditions and receipt of required regulatory approvals.

American Medical, a portfolio company of One Equity Partners and the Silverfern Group, is an Irvine, Calif.-based provider of wound care, ostomy, urology and tracheostomy supplies and services to long-term and post-acute care facilities.

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