Midwest Veterinary relaunches amendment to shift first-lien to SOFR

By Sara Rosenberg

New York, April 27 – Midwest Veterinary Partners LLC relaunched its amendment to shift its first-lien term loan to SOFR from Libor, this time with ARRC standard CSA of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, according to a market source.

Previously, the company was offering CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Jefferies LLC is the lead on the deal.

The amendment deadline is 5 p.m. ET on Tuesday, the source added.

The company did get lender approval to transition its second-lien term loan to SOFR from Libor with CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Midwest Veterinary, doing business as Mission Veterinary Partners, is a Southfield, Mich.-based network of general practice animal hospitals.

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