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Iasis Healthcare to launch $1.235 billion credit facility on Tuesday
By Sara Rosenberg
New York, April 15 - Iasis Healthcare LLC is scheduled to hold a bank meeting at 10 a.m. ET on Tuesday to launch a proposed $1.235 billion credit facility, according to a market source.
Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the lead banks on the deal, with Bank of America the left lead.
The facility consists of a $300 million revolver, a $775 million term loan B and a $160 million delayed-draw term loan, the source said.
Proceeds, along with some bonds, will be used to refinance existing debt and to fund a $230 million dividend.
Iasis is a Franklin, Tenn.-based owner and operator of medium-sized acute care hospitals.
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