Vizient launches $500 million term loan B at Libor plus 300 bps

By Sara Rosenberg

New York, April 8 – Vizient Inc. launched on Monday its $500 million seven-year term loan B with price talk of Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.

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

The company’s $1.6 billion of senior secured credit facilities (Ba3/BB-) also include a $500 million revolver and a $600 million term loan A.

Barclays, Bank of America Merrill Lynch and J.P. Morgan Securities LLC are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on April 17, the source added.

Proceeds will be used to refinance existing debt.

Other funds for the refinancing will come from $300 million of unsecured debt.

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

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