Press Ganey eyes next week for launch of $220 million credit facility

By Sara Rosenberg

New York, Feb. 7 - Press Ganey Associates, Inc. is looking at late next week, possibly Feb. 14, to launch its proposed $220 million credit facility, according to a market source.

Lehman Brothers and GE Capital are the lead banks on the deal, with Lehman the left lead.

The facility consists of a $20 million revolver and a $200 million first-lien term loan, the source said.

Proceeds will be used to help fund Vestar Capital Partners' acquisition of a majority interest in the company from American Securities Capital Partners, LLC.

Press Ganey is a South Bend, Ind.-based provider of services to hospitals and health care facilities.

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