Banks Postpone Commitment Date for Gentive TLB

Kellerhals, Richard
July 2010
High Yield Report;7/26/2010, Vol. 21 Issue 30, p18
The article discusses the decision of banks looking for a 600 million U.S. dollars term loan B for Gentiva Health Services to postpone the loan's commitment date, which is July 21, 2010. Sources claimed that the banks, Bank of America Merrill Lynch, Barclays, GE and Sun Trust, intend to time the deadline with the launch of 305 million U.S. dollars in senior unsecured notes. Price talk on term loan ranges between Libor plus 450 basis points and Libor plus 475 bps, with an original issue discount of 98, a 1.75% Libor floor and a 101 soft-call premium.


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