News and Analysis
Premise Health completes $725m refi with private credit
- Shubham Saharan
•1 min read
Onsite employee healthcare provider Premise Health has finalized a roughly $725m refinancing with direct lenders, a company spokesperson confirmed to 9fin.
Ares led the funding, with Blue Owl, Antares, and Golub also in the club, according to the company. The loan is priced at SOFR+550bps.
“[The lenders’] support allows us to continue investing in our organization and innovating for the future,” Shannon Farrington, chief financial officer of Premise Health said in an emailed statement to 9fin.
OMERS Private Equity acquired Premise in July 2018. And the company has a history with the private credit market: Golub and Ares previously lent to the company, per BDC filings.
The refinancing comes at a time when direct lenders are keen to hold on to credits they’ve invested in over the past few years. Some are offering tighter pricing or more creative financing options on loans to entice sponsors to stick with them.
Recent refinancings completed in the private credit market include a $1.2bn deal for software company Granicusand a $275m refinancing for healthcare services company Matrix Medical Network.
OMERS, Ares, Blue Owl, and Antares declined to comment for this story. Golub did not respond to a request for comment.
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