MedRisk to launch $705 million credit facilities on Wednesday

By Sara Rosenberg

New York, Jan. 12 – MedRisk LLC is set to hold a bank meeting at 11 a.m. ET on Wednesday to launch $705 million of senior secured credit facilities, according to a market source.

Jefferies LLC, Antares Capital, Barclays and Nomura are the lead arrangers on the deal.

The facilities consist of a $60 million five-year revolver, a $445 million seven-year first-lien term loan and a $200 million eight-year second-lien term loan, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to help fund the buyout of the company by the Carlyle Group from TA Associates.

Other funds for the transaction will come from equity.

MedRisk is a King of Prussia, Pa.-based provider of physical medicine solutions to the workers’ compensation industry.

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