BayMark Health increases first-lien term loan to $400 million

By Sara Rosenberg

New York, June 15 – BayMark Health Services upsized its first-lien term loan to $400 million from $360 million, according to a market source.

Pricing on the first-lien term loan and on the company’s $100 million delayed-draw first-lien term loan remained at Libor plus 500 basis points with a 1% Libor floor and an original issue discount of 99.

The $100 million second-lien term loan and $50 million delayed-draw second-lien term loan were unchanged at pricing of Libor plus 850 bps with a 1% Libor floor and a discount of 98.5.

Included in the second-lien term loan debt is call protection of 102 in year one and 101 in year two.

The company’s now $690 million of credit facilities, up from $650 million, also include a $40 million revolver.

Capital One, BMO Capital Markets and KeyBanc Capital Markets are the leads on the deal.

Proceeds will be used to refinance existing debt and fund near-term acquisitions.

BayMark is a Lewisville, Tex.-based provider of medication-assisted treatment to patients in recovery from substance use disorder.

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