Value-Based Care talks $600 million loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, June 14 – Value-Based Care Solutions launched on Thursday its $600 million seven-year first-lien term loan (B) with price talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

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

The company’s $850 million of credit facilities also include a $75 million revolver (B) and a $175 million privately placed second-lien term loan (CCC+).

Goldman Sachs Bank USA, Barclays and Deutsche Bank Securities Inc. are the leads on the deal.

Commitments are due on June 28, the source added.

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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