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Summit Behavioral Healthcare to reprice $796 million term loan
By Paul A. Harris
Portland, Ore., April 22 – Summit Behavioral Healthcare, LLC kicked off a repricing of its approximately $796 million first-lien term loan due Nov. 24, 2028 (B3/B-) on a Monday lender call, according to a market source.
The Franklin, Tenn.-based behavioral health care services provider’s deal comes with a 425 basis points spread to SOFR atop a 0.75% floor, at par. With the repricing, CSA is removed.
The 101 soft call protection resets for six months.
Commitments are due at noon ET on Friday.
Jefferies will lead a to-be-announced arranger group.
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