Team Health sets $1.31 billion term B repricing at Libor plus 300 bps

By Sara Rosenberg

New York, May 25 – Team Health Inc. firmed pricing on its $1,312,000,000 term loan B due November 2022 at Libor plus 300 basis points, the low end of the Libor plus 300 bps to 325 bps talk, according to a market source.

The loan still has a 0.75% Libor floor, a par offer price and 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to reprice the existing term loan B due November 2022 from Libor plus 375 bps with a 0.75% Libor floor.

Team Health is a Knoxville, Tenn.-based provider of outsourced physician staffing solutions for hospitals.

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