Kinetic Concepts Changes Loan Terms

Wound-care companyKinetic Concepts(KC), has altered the structure and proposed rates on part of a financing backing its buyout byApax Partners,Bloombergreports. A $2.6 billion term loan B with a seven-year maturity has been reduced to $2.2 billion and a senior secured bridge piece has been hiked by $0.4 billion to $1.65 billion.

The term debt will pay 5.75 percentage points more than the London interbank offered rate. The deal is being managed byBank of America Corp.,Morgan Stanley,Credit Suisse GroupandRoyal Bank of Canada.

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