Alliance Healthcare Seeks $590 Million Loans to Refinance Debt
Alliance Healthcare Services Inc. (AIQ), an outpatient diagnostic-imaging company, is seeking $590 million in loans to refinance existing debt, according to a person with knowledge of the deal.
The financing package will include a $470 million term loan B and a $120 million revolving line of credit, said the person, who declined to be identified because the terms are private.
Barclays Plc, Deutsche Bank AG and SunTrust Banks Inc. are arranging the deal for the Newport Beach, California-based company, according to the person. The banks will hold a lender meeting today.
A term loan B is sold mainly to non-bank lenders such as collateralized loan obligations, bank loan mutual funds and hedge funds. In a revolving credit, money can be borrowed again once it’s repaid; in a term loan, it can’t.
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