Signify Health firms $350 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, June 16 – Signify Health LLC finalized pricing on its $350 million seven-year first-lien term loan B (B1/B) at Libor plus 325 basis points, the low end of the Libor plus 325 bps to 350 bps talk, according to a market source.

Also, the company added a 25 bps pricing step-down to the term loan upon an S&P issuer credit rating of B+, the source said.

The term loan still has a 0.5% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

Barclays, JPMorgan Chase Bank, Goldman Sachs Bank USA, BofA Securities Inc. and UBS Investment Bank are the joint bookrunners on the deal. Barclays is the administrative agent.

Commitments were scheduled to be due at noon ET on Wednesday, the source added.

Proceeds will be used to repay existing term loans and to pay related fees and expenses.

Signify Health is a Dallas-based health care platform that powers and creates value-based payment programs.

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