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CHG Healthcare to launch $765 million credit facility tied to buyout
By Sara Rosenberg
New York, Oct. 24 - CHG Healthcare Services will be holding a bank meeting on Tuesday to launch a $765 million credit facility, according to a market source.
Goldman Sachs & Co., Barclays, Citigroup Global Markets Inc. and Jefferies & Co. are leading the deal.
The facility consists of a $100 million revolver, a $450 million first-lien term loan B and a $215 million second-lien term loan, the source said.
Proceeds will be used to help fund Leonard Green & Partners' and Ares Management LLC's acquisition of CHG from J.W. Childs Associates LP.
Closing is expected by the end of the year, subject to customary conditions.
Following the close, existing management will retain a significant equity interest in the company.
CHG is a Salt Lake City-based health care staffing firm.
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