Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Forefront Dermatology > News item |
Forefront ups term loan to $110 million, firms at SOFR plus 550 bps
By Sara Rosenberg
New York, Dec. 14 – Forefront Dermatology (Dermatology Intermediate Holdings III Inc.) upsized its non-fungible incremental first-lien term loan (B2/B) due April 1, 2029 to $110 million from $100 million and set pricing at SOFR plus 550 basis points, the high end of the SOFR plus 525 bps to 550 bps talk, according to a market source.
Additionally, the original issue discount on the incremental term loan firmed at 97.5, the midpoint of the 97 to 98 talk, the source said.
The incremental term loan still has a 0.5% floor and 101 soft call protection for six months.
UBS Investment Bank is the arranger on the deal.
Proceeds will be used to repay revolving credit facility drawings and to fund acquisitions under letters of intent.
Partners Group is the sponsor.
Forefront Dermatology is a Manitowoc, Wis.-based dermatology physician practice.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.