Wolverine Healthcare lifts term loan B talk to Libor plus 550 bps

By Sara Rosenberg

New York, May 24 - Wolverine Healthcare Analytics increased price talk on its $527.75 million seven-year term loan B to Libor plus 550 basis points from Libor plus 425 bps, according to a market source.

The loan was increased from $525 million.

In addition, the original issue discount on the term loan B was moved to 98 from 981/2, the source said.

The 1.25% Libor floor and 101 soft call protection for one year were left unchanged.

The company's $577.75 million credit facility (Ba3/B+) also includes a $50 million five-year revolver that is priced at Libor plus 550 bps.

Recommitments were due by 4 p.m. ET on Thursday, and allocations are expected to go out on Friday morning, the source added.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and UBS Securities LLC are the lead banks on the deal.

Proceeds, along with $327.15 million of senior notes, will be used to fund Veritas Capital's buyout of the company for $1.25 billion in cash from Thomson Reuters.

Closing is expected in the next few months, subject to regulatory approval and customary conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.

Wolverine Healthcare, formerly Thomson Reuters Healthcare, is a provider of data, analytics and performance benchmarking services to hospitals, health systems, employers, health plans, government agencies and health care professionals.

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