Hospice Compassus and Life Choice seek $210 million credit facility

By Sara Rosenberg

New York, Dec. 3 – Hospice Compassus and Life Choice Hospital are in market with a $210 million credit facility to help fund a buyout by Formation Capital and Audax, according to a market source.

GE Capital Markets, BMO Capital Markets Corp. and CIT are the co-arrangers on the deal that launched with a bank meeting on Tuesday.

The facility consists of a $30 million five-year revolver and a $180 million six-year term loan B, the source said.

Included in the term loan is 101 soft call protection for six months.

Other funds for the buyout will come from $90 million of senior unsecured notes that have been privately placed.

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