Solis Mammography to launch $475 million credit facilities on Tuesday

By Sara Rosenberg

New York, March 19 – Solis Mammography (SM Wellness Holdings Inc.) will hold a bank meeting at 9 a.m. ET on Tuesday to launch $475 million of senior secured credit facilities, according to a market source.

Jefferies LLC is the arranger on the deal.

The facilities consist of a $25 million five-year revolver, a $300 million seven-year first-lien term loan, a $50 million 18-month commitment delayed-draw first-lien term loan and a $100 million eight-year second-lien term loan, the source said.

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

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to refinance the company’s existing capital structure.

Solis Mammography is an Addison, Tex.-based provider of mammography and related breast imaging services.

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