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Value-Based Care to launch $675 million first-lien loans Thursday
By Sara Rosenberg
New York, June 12 – Value-Based Care Solutions is scheduled to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch $675 million of first-lien credit facilities, according to a market source.
Goldman Sachs Bank USA, Barclays and Deutsche Bank Securities Inc. are the leads on the deal.
The facilities consist of a $75 million revolver and a $600 million first-lien term loan, the source said.
The company is also getting a $175 million privately placed second-lien term loan.
Proceeds will be used to help fund the buyout of General Electric’s Value-Based Care Division by Veritas Capital for $1.05 billion in cash.
Closing is expected in the third quarter, subject to customary conditions and regulatory approvals.
Value-Based Care Solutions is a software provider that leverages technology and analytics to help health care providers effectively manage their financial, clinical and human capital workflows.
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