AmeriPath's $203.5 million term loan broke in the secondary market at 101 1/4 last week. One trader said it was a popular name that was oversubscribed. Wachovia Bank, Citigroup and Deutsche Bank lead the deal, which is priced at LIBOR plus 2%. Original price talk on the loan was LIBOR plus 2 1/4% (CIN, 11/21). The credit also consists of a $95 million revolver. The deal backs AmeriPath's merger with Specialty Laboratories. Welsh, Carson, Anderson and Stowe is AmeriPath's equity sponsor.
Ameripath provides testing and information services to physicians in the detection, diagnosis and treatment of medical conditions. David Redmond, executive v.p. and cfo, did not return calls.