U.S. Anesthesia to launch $950 million first-lien term loan Thursday

By Sara Rosenberg

New York, June 6 – U.S. Anesthesia Partners is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch a $950 million seven-year first-lien term loan, according to a market source.

The company’s $1.4 billion of credit facilities also include a $150 million five-year revolver that will be unfunded at close and a $300 million pre-placed eight-year second-lien term loan, the source said.

Goldman Sachs Bank USA, Barclays, J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc., Antares Capital, BMO Capital Markets and Capital One are the bookrunners on the deal.

Proceeds will be used to refinance existing debt, to pay related fees and expenses and to pay a one-time shareholder dividend and management bonuses.

The company is a first time issuer in the syndicated market, the source added.

U.S. Anesthesia Partners is a Fort Lauderdale, Fla.-based physician-service organization that focuses on providing anesthesia and pain management services to patients. The company was founded in 2013 by Greater Houston Anesthesiology; Welsh, Carson, Anderson & Stowe; and management.

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