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Vyaire Medical readies launch of $360 million term loan B for Monday
By Sara Rosenberg
New York, March 16 – Vyaire Medical Inc. will hold a bank meeting at 1:30 p.m. ET in New York on Monday to launch a $360 million seven-year covenant-light term loan B, according to a market source.
Bank of America Merrill Lynch, RBC Capital Markets, ING and Natixis are the lead arrangers on the deal.
Proceeds will be used along with a new $90 million second-lien term loan to finance Apax’s acquisition of the existing minority shareholder’s stake in the company and to fund contemplated acquisitions, the source said.
Vyaire Medical is a Mettawa, Ill.-based pure play medical device company in the respiratory space.
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