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Altegra Health prepares close of its $120 million credit facility
By Sara Rosenberg
New York, Aug. 9 - Altegra Health Inc. is getting ready to close on a $120 million credit facility, according to a market source.
The facility consists of a $30 million revolver and a $90 million term loan, the source said.
SunTrust Robinson Humphrey Inc. and Fifth Third Securities Inc. are the lead banks on the deal.
Proceeds are being used to refinance existing debt, including $70 million of senior debt that was priced at Libor plus 550 bps with a 1.75% Libor floor and $25 million of mezzanine debt that was priced at 14¾%.
Altegra is a Miami Lakes, Fla.-based provider of technology‐enabled revenue management services to healthcare organizations.
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