Press Ganey to launch $35 million incremental term loan on Tuesday

By Sara Rosenberg

New York, April 28 - Press Ganey Associates Inc. (PGA Holdings Inc.) will hold a call at 11 a.m. ET on Tuesday to launch a $35 million incremental first-lien term loan, according to a market source.

Barclays is the bookrunner on the deal.

The company's existing first-lien term loan due April 20, 2018 is sized at about $376.7 million and priced at Libor plus 325 basis points with a 1% Libor floor.

Proceeds from the incremental loan and cash on hand will be used to repay the company's existing $45 million second-lien term loan.

Press Ganey is a South Bend, Ind.-based provider of health-care performance improvement services.

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