Pediatric Associates launches $125 million term loan to investors

By Sara Rosenberg

New York, May 18 – Pediatric Associates held a lender call at 2 p.m. ET on Thursday to launch a non-fungible $125 million incremental first-lien term loan due December 2028 that is talked at SOFR+CSA plus 375 basis points to 400 bps with a 0.5% floor and an original issue discount of 97, according to a market source.

CSA is 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate.

The incremental term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA is the sole lead arranger on the deal.

Commitments are due at noon ET on Wednesday, the source added.

Proceeds will be used for general corporate purposes, including to fund future acquisitions and to pay transaction fees and expenses.

TPG Capital and Summit Partners are the sponsors.

Pediatric Associates is a pediatric physician group, offering primary and specialty care, laboratory, diagnostic and care management services, as well as 24/7 telehealth access.

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