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Alliance Healthcare Sets Interest Rate on $470 Million Term Loan

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June 15 (Bloomberg) -- Alliance Healthcare Services Inc., an outpatient diagnostic-imaging company, set initial price guidance on a $470 million term loan B it’s seeking to refinance debt.

Alliance is offering to pay lenders 4 percentage points to 4.25 percentage points more than the London interbank offered rate, with a 1.5 percent minimum on the lending benchmark, according to data compiled by Bloomberg. The loan is expected to price at 99 cents on the dollar.

Barclays Plc, Deutsche Bank AG and SunTrust Banks Inc. are arranging the deal for the Newport Beach, California-based company, the data show. The facility will include a $120 million revolving line of credit.

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.

To contact the reporter on this story: Richard Bravo in New York at rbravo5@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.

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