RadNet readies launch of $585 million credit facility for Monday

By Sara Rosenberg

New York, June 2 – RadNet Management Inc. is scheduled to hold a bank meeting on Monday to launch a $585 million credit facility, according to a market source.

Barclays is the bookrunner on the deal.

The facility consists of a $100 million five-year revolver and a $485 million seven-year term loan B, the source said.

Proceeds will be used to refinance an existing $444.8 million first-lien term loan, pay down any outstanding revolving credit facility borrowings, which were $16.3 million at March 31, and repay a portion of an existing $180 million second-lien term loan.

Closing is expected this month.

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

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