Renal Advantage upsizes term loan to $365 million from $350 million

By Paul A. Harris

St. Louis, Dec. 6 - Renal Advantage upsized its term loan to $365 million from $350 million on Monday, an informed source said.

Talk was tightened to Libor plus 425 basis points from Libor plus 450 bps.

The deal features a 1.5% Libor floor.

The now $415 million - up from $400 million - credit facility also includes a $50 million revolver.

Barclays and Bank of America are the lead banks on the deal.

Proceeds, along with $206 million of mezzanine debt, will be used to help fund the company's merger with Liberty Dialysis.

Closing on the merger is expected to occur by Dec. 31.

Leverage through the first-lien is 3.6 times and net leverage through the mezzanine is 5.6 times.

Brentwood, Tenn.-based Renal Advantage and Mercer Island, Wash.-based Liberty Dialysis are providers of dialysis services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.