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Athletico Physical to launch $875 million term loan B on Thursday
By Sara Rosenberg
New York, Jan. 19 – Athletico Physical Therapy is scheduled to hold a lender call at 2:30 p.m. ET on Thursday to launch an $875 million seven-year term loan B (B), according to a market source.
BofA Securities Inc. and BMO Capital Markets are the leads on the deal.
The term loan has 101 soft call protection for six months, the source said.
Proceeds will be used with equity to fund the acquisition of Pivot Health Solutions from PennantPark, to refinance existing debt and to add cash to the balance sheet.
Closing is expected this quarter, subject to customary conditions and regulatory approvals.
Athletico is an Oak Brook, Ill.-based provider of orthopedic rehabilitation services. Pivot Health is a provider of physical therapy, occupational health and onsite corporate health services.
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