FHC Health Systems to launch $415 million credit facility on Thursday

By Sara Rosenberg

New York, Sept. 8 – FHC Health Systems Inc. will hold a bank meeting at 2:30 p.m. ET in New York on Thursday to launch a $415 million credit facility, according to a market source.

UBS AG, Goldman Sachs Bank USA, GE Capital Markets and Nomura are the joint bookrunners on the deal.

The facility consists of a $65 million five-year revolver and a $350 million seven-year first-lien term loan, the source said.

Included in the first-lien term loan is a 1% Libor floor and 101 soft call protection for six months.

Proceeds will be used to help fund Beacon Health Strategies’ merger with ValueOptions Inc. to create FHC Health.

Closing is expected this fall, subject to regulatory review.

FHC Health is a Boston-based managed behavioral healthcare company.

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