RadNet tightens OID on $100 million incremental term loan B to 99.5

By Sara Rosenberg

New York, April 10 – RadNet Management Inc. adjusted the original issue discount on its fungible $100 million incremental term loan B due June 30, 2023 to 99.5 from 99.15, according to a market source.

Pricing on the incremental term loan is Libor plus 375 basis points, based on the company’s first-lien leverage ratio, with a 1% Libor floor.

Barclays is the bookrunner on the deal.

Final commitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings, fund cash to the balance sheet for potential future acquisitions and pay related fees and expenses.

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

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