Bank of America is leading a $485 million deal backing Matria Healthcare's acquisition of CorSolutions Medical. The financing, syndication of which launched last week, breaks down into a five-year, $30 million revolver; a six-year, $245 million senior secured "B" term loan; a $125 million term loan "C" and a seven-year, $85 million second-lien loan. Pricing is LIBOR plus 2 1/2% on the revolver, "B" and "C" term loans and LIBOR plus 6 1/2% on the second lien.
Moody's Investors Service has affirmed its B1 corporate family rating on Matria and has rated the revolver and the "B" and "C" term loans B1. A rating of B3 has been placed on the second-lien loan. Based in Marietta, Ga., Matria provides healthcare, disease and high-risk pregnancy management programs and services. Calls to Matria were not returned.