CHG talks incremental term loan, repricing at Libor plus 275-300 bps

By Sara Rosenberg

New York, Nov. 30 – CHG Healthcare Services Inc. launched on Thursday its $200 million incremental first-lien term loan and repricing of its existing $1,113,700,000 first-lien term loan with price talk of Libor plus 275 basis points to 300 bps with a 1% Libor floor, according to a market source.

The incremental loan is talked with an original issue discount of 99.75, and the repricing is offered at par, the source said.

The term loan debt is getting 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.

Amendment consents are due on Dec. 6, and dollar commitments are due on Dec. 7, the source added.

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

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