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TriZetto talks $150 million second-lien loan at Libor plus 725-750 bps
By Sara Rosenberg
New York, Sept. 20 - TriZetto Group Inc. launched with a call its $150 million 61/2-year second-lien term loan on Thursday afternoon with price talk of Libor plus 725 basis points to 750 bps with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.
Call protection on the loan is 103 in year one, 102 in year two and 101 in year three, the source said.
Commitments are due on Wednesday.
RBC Capital Markets is the lead arranger on the deal.
Proceeds will be used to refinance the company's revolving credit facility and put additional cash on its balance sheet.
TriZetto is a Greenwood Village, Colo.-based health care information technology company to the health care payer industry.
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