NAPA Management finalizes terms on $610 million seven-year term loan

By Paul A. Harris

Portland, Ore., Feb. 17 – NAPA Management Services Corp. finalized pricing on its $610 million seven-year senior secured term loan B (B2/B) on top of talk at SOFR+CSA plus 525 basis points with a 0.75% floor and an original issue discount of 99, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for six months.

Barclays, SVB Leerink and MUFG are the joint bookrunners on the deal. Barclays is the administrative agent.

Proceeds will be used to refinance existing debt and fund cash to the balance sheet.

American Securities is the sponsor.

NAPA is a Melville, N.Y.-based outsourced anesthesia and perioperative management services company.

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