FastMed sets price talk on $525 million two-part term loan deal

By Paul A. Harris

Portland, Ore., Jan. 24 – FastMed Urgent Care set a bank meeting at 10 a.m. ET Thursday to launch $525 million of term loan debt, according to a market source.

The deal features a $400 million seven-year first-lien term loan talked at Libor plus 450 basis points to 475 bps with a 0% Libor floor and an original issue discount of 98 to 99.

A $125 million eight-year second-lien term loan is talked at Libor plus 850 bps to 875 bps with a 0% Libor floor and a discount of 97 to 98.

Commitments are due at noon ET on Feb. 7.

Bookrunner Barclays is the agent. SG and Antares are also bookrunners.

The Clayton, NC-based provider of walk-in clinic services plans to use the proceeds to fund the acquisition of NextCare Holdings.

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