Omnia Partners to launch $2.03 billion credit facilities on Monday

By Sara Rosenberg

New York, July 6 – Omnia Partners LLC is scheduled to hold a lender call at 2:30 p.m. ET on Monday to launch $2.03 billion of credit facilities, according to a market source.

Barclays, Fifth Third, Brinley, BNP Paribas Securities Corp., Citizens, UBS Investment Bank, Jefferies LLC and Golub Capital are the joint lead arrangers on the deal.

The facilities consist of a $250 million revolver, a $1.625 billion seven-year first-lien term loan and a $155 million first-lien delayed-draw term loan, the source said.

The first-lien term loan and delayed-draw term loan will trade as a strip.

Proceeds will be used to fund the acquisition of Premier Inc.’s non-health care group purchasing organization operations for about $800 million, to refinance in full the company’s existing debt, for general corporate purposes and to pay related fees and expenses.

Closing on the acquisition is expected by early August, subject to regulatory approval and customary conditions.

Omnia, owned by TA Associates, Leonard Green & Partners and management, is a Franklin, Tenn.-based non-health care group purchasing organization.

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