RadNet to launch $389 million secured term loan on Wednesday

By Sara Rosenberg

New York, March 19 - RadNet Inc. is set to hold a lender call at 2 p.m. ET on Wednesday to launch a $389,125,000 senior secured term loan due Oct. 10, 2018, according to a market source.

Barclays is the lead bank on the deal.

The debt includes $40 million of incremental term loan borrowings and $349,125,000 of existing term loan borrowings, the source said.

There is 101 soft call protection for one year on the entire term loan.

Covenants include a maximum total leverage ratio and maximum capital expenditures.

Proceeds will be used to refinance the existing term loan, to repay revolver debt and for general corporate purposes.

RadNet is a Los Angeles-based owner and operator of fixed-site diagnostic imaging centers.

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