Ardent launches $900 million term loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, July 26 – Ardent Health Services (AHP Health Partners Inc.) held a lender call on Monday to launch a $900 million seven-year term loan B (B) that is talked at Libor plus 350 basis points to 375 bps with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

BofA Securities Inc., Barclays and JPMorgan Chase Bank are the joint lead arrangers on the deal. Capital One and Regents Bank are co-managers.

Commitments are due at noon ET on Aug. 4, the source added.

Proceeds will be used to refinance existing term loans.

Ardent is a Nashville, Tenn.-based provider of comprehensive, cost-effective health care and related services.

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