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Emdeon Sets Rate On $1.2B Loan For LBO
Billing system and software provider Emdeon has fixed the initial interest rate on a $1.2 billion term loan B that it requires to finance its leveraged buyout by Blackstone Group.
Billing system and software providerEmdeonhas fixed the initial interest rate on a $1.2 billion term loan B that it requires to finance its leveraged buyout (LBO) byBlackstone Group,Bloombergreports. The seven-year loan will pay 5.5 percentage points to 5.75 percentage points more than the London interbank offered rate.
The deal, likely to close later this month, has been arranged byBank of America Corp.,Barclays,Citigroup,Goldman Sachs GroupandSunTrust Banks. Emdeon is also looking for a $125 million revolving credit facility maturing in five years.
Click here for the story fromBloomberg.