Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Azalea TopCo Inc. > News item |
Press Ganey allocates $1.83 billion term loan B at SOFR plus 350 bps
Chicago, April 24 – Press Ganey (Azalea TopCo Inc.) allocated on Wednesday its $1.825 billion seven-year term loan B (B3/B-), according to a market source.
Final pricing was SOFR plus 350 basis points, lower than talk of 375 bps to 400 bps. The original issue discount came at 99, the low end of talk of 99 to 99.5.
The term loan has 101 soft call protection for six months.
Closing is expected on April 30.
Barclays is the lead on the deal and the administrative agent.
Proceeds will be used to repay revolving credit facility borrowings, first-lien term loans and second-lien notes, and to redeem series A preferred stock, including fees and expenses.
Press Ganey is a provider of mission-critical experience management solutions for health care providers and payors, pharmaceutical companies and other complex industries outside the health care industry.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.