Physician Partners to launch $650 million credit facilities Wednesday

By Sara Rosenberg

New York, Jan. 18 – Physician Partners LLC is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch $650 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC and Truist are the lead arrangers on the deal.

The facilities consist of a $50 million revolver and a $600 million seven-year first-lien term loan, the source said.

The term loan has 101 soft call protection for six months and CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Commitments are due at 5 p.m. ET on Feb. 2, the source added.

Proceeds will be used to support an equity investment in the company by Kinderhook Industries.

Physician Partners is a primary care physician group and managed service organization.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.