Team Health sets talk on $575 million credit facilities

By Paul A. Harris

Portland, Ore., June 9 - Team Health Holdings Inc. set price talk on its $575 million credit facility on Thursday, according to an informed source.

A $300 million term loan B is talked with a Libor spread of 275 basis points to 300 bps and a 1% Libor floor.

Discount talk is 99.50.

The loan features a 101 soft call in year one.

The facility also features a $165 million five-year revolver and a $110 million five-year term loan A, both of which will open at Libor plus 225 bps.

J.P. Morgan Securities LLC is the lead arranger and joint bookrunner. Barclays Capital Inc. is the joint lead arranger and is also a joint bookrunner.

Proceeds will be used to refinance existing debt.

Team Health is a Knoxville, Tenn.-based provider of hospital-based clinical outsourcing.

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