Kinetic Concepts (KCI) has decided the interest rates it will offer on the $2.5 billion of loans it’s seeking to back its buyout by Apax Partners, Bloomberg reports. A term loan B worth $1.63 billion, due in 6.5 years, will pay 5.75 percentage points more than the London interbank offered rate (Libor). A $250 million euro denominated term loan B, maturing in 6.5 years, will carry a coupon 5.75 percentage points more than Euribor, with a bottom limit of 1.25 percent.
The wound care company will pay 5.25 percentage points over Libor on a $325 million term loan C, due in five years. The transaction was arranged by Bank of America Corp., Morgan Stanley, Credit Suisse Group and Royal Bank of Canada.
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Kinetic Concepts Credit Suisse Group America Corp. Apax Partners Royal Bank