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Press Ganey Associates to launch $371.6 million term loan on Monday
By Sara Rosenberg
New York, April 26 - Press Ganey Associates Inc. (PGA Holdings Inc.) will hold a call at 2 p.m. ET on Monday to launch a $371,550,000 first-lien senior secured term loan due April 20, 2018, according to a market source.
Barclays is the left lead on the deal.
Covenants include a maximum senior secured net leverage ratio and a minimum interest coverage ratio.
Proceeds will be used to reprice an existing $341,550,000 first-lien term loan, and the $30 million of incremental borrowings will be used to repay a portion of the company's existing second-lien term loan.
Press Ganey is a South Bend, Ind.-based provider of health care performance improvement services.
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