MedAssets to launch repricing of $635 million term B on Monday

By Sara Rosenberg

New York, March 4 - MedAssets Inc. is scheduled to hold a conference call on Monday to launch a repricing of its $635 million term loan B, according to a market source.

Barclays and J.P. Morgan are the lead banks on the deal.

The term loan was obtained in November at pricing of Libor plus 375 bps with a step-down to Libor plus 350 bps when total leverage is less than 4.5 times and a 1.5% Libor floor. Also, the term loan B has 101 soft call protection for one year and was sold at an original issue discount of 99.

Proceeds had been used to fund the acquisition of the Broadlane Group and to refinance existing bank debt.

MedAssets is an Alpharetta, Ga.-based provider of technology-enabled products and services for hospitals, health systems and ancillary health care providers.

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