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Patterson Medical to launch $330 million term loan B on Tuesday
By Sara Rosenberg
New York, June 10 – Patterson Medical is set to hold a bank meeting at 10 a.m. ET on Tuesday to launch a $330 million covenant-light term loan B, according to a market source.
Deutsche Bank Securities Inc., Barclays, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are the lead banks on the debt.
Proceeds will be used to help fund the acquisition of Performance Health from Gridiron Capital.
Closing is expected this summer, subject to customary conditions.
Patterson Medical, a Madison Dearborn Partners portfolio company, is a Warrenville, Ill.-based distributor of rehabilitation, sports medicine and assistive patient products. Performance Health is an Akron, Ohio-based manufacturer and supplier of consumer branded health, wellness and self-care products.
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