Kinetic Concepts Said to Rework Financing Backing Apax LBO
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Kinetic Concepts Inc., a wound care company, changed the structure and proposed rates on a portion of a financing backing it’s buyout by Apax Partners Inc., according to two people with knowledge of the deal.
A $2.6 billion term loan B maturing in seven years was cut to $2.2 billion and a senior secured bridge piece was increased by the same amount to $1.65 billion, said the people, who declined to be identified because the deal is private.