DaVita talks $250 million revolver, $1 billion term loan A at Libor plus 300 basis points

By Sara Rosenberg

New York, Oct. 4 - DaVita Inc. is talking its $250 million five-year revolver and a $1 billion five-year term loan A at Libor plus 300 basis points, according to a market source.

The company's $3 billion secured credit facility (Ba2/BB) also includes a $1.75 billion six-year term loan B talked at Libor plus 350 bps with a 1.5% Libor floor and an original issue discount of 99.

JPMorgan, Bank of America, Credit Suisse, Barclays, Goldman Sachs and Wells Fargo are the joint lead arrangers and bookrunners on the deal.

Proceeds from the facility, along with $1.45 billion of notes, will be used to refinance the company's $1.8 billion of outstanding bank debt, $700 million of its 6 5/8% senior notes due 2013 and $850 million of its senior subordinated notes due 2015 and for general corporate purposes and other opportunities, including potential acquisitions, share repurchases and other growth investments.

DaVita is a Denver-based provider of dialysis services.

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