Vizient launches $1.05 billion term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, Jan. 16 – Vizient Inc. launched on Tuesday its $1.05 billion term loan B due Feb. 13, 2023 with price talk of Libor plus 275 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Barclays is the lead bank on the deal.

Commitments/consents are due at 5 p.m. ET on Jan. 23, the source added.

Proceeds will be used to reprice an existing term loan B from Libor plus 350 bps with a 1% Libor floor in tandem with a paydown occurring from a concurrent pro-rata deal.

Vizient is an Irving, Texas-based network of not-for-profit health care organizations.

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