Univita talks $220 million credit facility at Libor plus 450-475 bps

By Sara Rosenberg

New York, May 17 - Univita Health launched its $220 million senior secured credit facility on Tuesday with price talk of Libor plus 450 basis points to 475 bps with a 1.5% Libor floor and an original issue discount of 99, according to a market source.

The facility consists of a $20 million five-year revolver and a $200 million six-year term loan.

The term loan includes 101 soft call protection for one year, the source said.

Commitments are due on June 1.

Barclays Capital Inc. and Jefferies & Co. Inc. are the lead banks on the deal.

Proceeds will be used to repay existing credit facility and mezzanine debt.

Univita is a Scottsdale, Ariz.-based provider of home-based care.

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