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RadNet revises issue price on $75 million incremental loan to par
By Sara Rosenberg
New York, April 28 – RadNet Inc. changed the issue price on its fungible $75 million incremental first-lien term loan due Oct. 10, 2018 to par from talk in the 99¾ area, according to a market source.
Pricing on the incremental loan is still Libor plus 325 basis points with a 1% Libor floor, in line with the existing first-lien term loan.
Commitments were due at 5 p.m. ET on Tuesday.
Barclays is the bookrunner on the deal.
Proceeds will be used to repay revolver borrowings and for general corporate purposes.
RadNet is a Los Angeles-based owner and operator of fixed-site diagnostic imaging centers.
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