MedAssets to launch $230 million credit facility on Sept. 15

By Sara Rosenberg

New York, Sept. 6 - MedAssets Inc. is scheduled to hold a bank meeting on Sept. 15 to launch its proposed $230 million credit facility, according to a market source.

Bank of America is the lead bank on the deal.

The facility consists of a $60 million revolver talked at Libor plus 250 basis points and a $170 million term loan talked at Libor plus 275 bps, the source said.

Proceeds will be used to fund a dividend payment, refinance existing debt, and for working capital and general corporate purposes.

MedAssets is an Atlanta-based company that improves health care providers' margin and cash flow through revenue cycle and supply chain initiatives as well as decision support technology and services.

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