CHG Healthcare launches $990 million term B at Libor plus 400-425 bps

By Sara Rosenberg

New York, May 19 – CHG Healthcare Services Inc. launched on Thursday its $990 million seven-year senior secured term loan B with price talk of Libor plus 400 basis points to 425 bps with a 1% 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 and amortization of 1% per annum, the source said.

Goldman Sachs & Co., Barclays, Citigroup Global Markets Inc. and Jefferies Finance LLC are the lead banks on the deal.

Commitments are due at noon ET on June 2, the source added.

Proceeds will be used to help refinance existing debt and fund a dividend.

Other funds for the transaction will come from $300 million of second-lien notes that have been privately placed.

CHG is a Salt Lake City-based health care staffing firm.

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