Revint lifts term loan to $640 million, flexes to Libor plus 500 bps

By Sara Rosenberg

New York, Oct. 8 – Revint Solutions upsized its seven-year term loan B to $640 million from $630 million and increased pricing to Libor plus 500 basis points from Libor plus 425 bps, according to a market source.

Also, original issue discount talk on the term loan was changed to a range of 95 to 96 from 98.5 and then firmed at 95.5 later in the day, the 101 soft call protection was extended to one year from six months and some changes were made to documentation, the source said.

As before, the term loan has a 0.75% Libor floor.

The company’s now $715 million of credit facilities (B3/B-), up from $705 million, also include a $75 million revolver.

Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Jefferies LLC, Barclays and KeyBanc Capital Markets are the leads on the deal.

Recommitments were scheduled to be due at 2 p.m. ET on Thursday, the source added.

Proceeds will be used to fund the acquisition of and merger with Triage Consulting Group, a health care revenue integrity company, and to refinance existing Revint debt. The funds from the upsizing will be used to pay incremental fees and expenses in conjunction with this transaction.

The merger is being facilitated by New Mountain Capital LLC.

Closing is expected during the week of Oct. 12.

Revint Solutions is a Plano, Tex.-based provider of revenue integrity and recovery services to hospitals and health systems.

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