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Universal Health launches $1.6 billion term B at Libor plus 300 bps
By Sara Rosenberg
New York, Feb. 22 - Universal Health Services Inc. launched its $1.6 billion term loan B due Nov. 15, 2016 on Tuesday with price talk of Libor plus 300 basis points with a 1% Libor floor and a par offer price, according to a market source.
The company's $3.45 billion credit facility also includes an $800 million revolver due Nov. 15, 2015 and a $1.05 billion term loan A due Nov. 15, 2015.
JPMorgan and Deutsche Bank are the lead banks on the deal.
Proceeds will be used to refinance existing debt.
Universal Health is a King of Prussia, Pa.-based health-care management company.
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