21st Century talks $430 million term B at Libor plus 425-450 bps

By Sara Rosenberg

New York, May 8 - 21st Century Oncology Inc. is talking its $430 million seven-year first-lien senior secured term loan B at Libor plus 425 basis points to 450 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

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

The company's $640 million credit facility also includes a $210 million revolver.

Expected facility ratings are Ba3/B-.

Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC, GE Capital Markets and Wells Fargo Securities LLC are the lead banks on the deal that launched with a bank meeting on Wednesday.

Proceeds will be used to refinance existing debt.

Commitments are due on May 19, the source added.

21st Century Oncology is a Fort Myers, Fla.-based provider of cancer care services.

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