FHC Health launches $350 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, Sept. 11 – FHC Health Systems Inc. launched on Thursday its $350 million seven-year first-lien term loan with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

The company’s $415 million credit facility (B1/B+) also includes a $65 million five-year revolver.

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

Commitments are due on Sept. 25, the source added.

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 health care company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.