Pediatric Associates talks $600 million loan at Libor plus 350 bps

By Sara Rosenberg

New York, Jan. 27 – Pediatric Associates Holding Co. LLC launched on Thursday its $600 million seven-year covenant-lite first-lien term loan (B2/B) with price talk of Libor plus 350 basis points with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Deutsche Bank Securities Inc. and Citizens Bank are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 10.

Proceeds will be used to fund a recapitalization and a partial equity sale of the business.

Pediatric Associates is a pediatric practice management company.

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