Emdeon Said to Set Rate on $1.2 Billion Term Loan for LBO
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Emdeon Inc., the provider of billing systems and software for health-care companies, set the initial interest rate on a $1.2 billion term loan B it’s seeking to finance the company’s buyout by Blackstone Group LP, according to a person with knowledge of the transaction.
The seven-year debt will pay 5.5 percentage points to 5.75 percentage points more than the London interbank offered rate, said the person, who declined to be identified because the terms are private. Libor, a rate banks charge to lend to each other, will have a 1.25 percent floor.