BASIS POINT-Healthscope launches A$850 mln refinancing
MELBOURNE, May 20 (Reuters Basis Point) - Healthscope Ltd (HSP.AX), Australia's No. 2 private hospitals operator, last week launched an A$850 million ($810 million) revolving credit facility to syndication with a presentation in Melbourne, sources said.
The loan, arranged by ANZ, is priced at 150 basis points (bp) over BBSY and pays an all-in yield of 166.7 bp based on a top level commitment of A$100 million.
Two other ticket levels offer A$75 million for a 45 bp front-end fee and the lead manager title and A$50 million for a 40 bp participation fee and the manager title.
The deal is to principally refinance a A$700 million credit signed in February 2007 that was also arranged by ANZ.
New lenders and existing relationship banks BOS International Australia, Commonwealth Bank of Australia, St George Bank and Westpac Banking Corp have been invited to participate and responses are due in June.
Healthscope, currently unrated, this year lost a lengthy battle with Primary Health Care Ltd (PRY.AX) over the acquisition of Symbion Health Ltd. ($1=A$1.05) (Reporting by Sharon Klyne)
