MyEyeDr. sets talk for $600 million of term loans with launch

New York, Jan. 24 – MyEyeDr. set price talk for its $600 million of new term loans with the launch of its $675 million credit facility on Wednesday, according to a market source.

The $440 million seven-year senior secured first-lien term loan is talked at Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99.5.

The first-lien loan has 101 soft call protection for six months.

Talk for the $160 million eight-year senior secured second-lien term loan is Libor plus 725 bps with a 1% floor for Libor and an original issue discount of 99.

Call protection on the second-lien loan is 102 initially, declining to 101.

The facility also includes a $75 million revolver.

Goldman Sachs is left lead arranger, and RBC Capital Markets, Credit Suisse, Barclays, Jefferies and Golub Capital are also lead arrangers.

Commitments are due by Feb. 2.

Proceeds will be used to refinance debt.

MyEyeDr. is the business name for Capital Vision Services LLC, a Vienna, Va. eye-care management company providing MyEyeDr. optometrists with financial, marketing, human resources and accounting services along with managed care credentialing and claims processing.

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