CHG finalizes incremental term loan, repricing at Libor plus 300 bps

By Sara Rosenberg

New York, Dec. 6 – CHG Healthcare Services Inc. firmed the spread on its $200 million incremental first-lien term loan and repricing of its existing $1,114,260,089 first-lien term loan at Libor plus 300 basis points, the high end of the Libor plus 275 bps to 300 bps talk, according to a market source.

Also, the issue price on the incremental loan was tightened to par from 99.75, the source said. The repricing is still offered at par.

The term debt (B) continues to include a 1% Libor floor and 101 soft call protection for six months.

Jefferies LLC is the lead on the deal.

Proceeds from the incremental term loan will be used to repay a portion of the company’s existing second-lien term loan, and the repricing will take the existing first-lien term loan down from Libor plus 325 bps with a 1% Libor floor.

Commitments were scheduled to be due at noon ET on Wednesday, accelerated from Thursday, the source added.

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

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