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DaVita raises term loan A-2 amount to $200 million from $100 million
By Sara Rosenberg
New York, Aug. 26 - DaVita Inc. increased its term loan A-2 due October 2016 to $200 million from $100 million, according to a market source.
Pricing was left unchanged at Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 991/2. There is a step-down to Libor plus 325 bps based on ratings.
The company also got a $100 million revolver add-on due 2015 that is priced in line with its existing revolver.
Revolver lenders providing the add-on were paid a 100 bps commitment fee.
Wells Fargo Securities LLC acted as the lead arranger on the deal. J.P. Morgan Securities LLC is the administrative agent.
Proceeds will be used for general corporate purposes.
Closing took place on Friday.
DaVita is a Denver-based provider of dialysis services.
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