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ExamWorks completes $125M incremental term loan for M&A; terms

ExamWorks Group Inc. completed the $125 million fungible add-on to its covenant-lite term loan B due July 2023, (L+325, 1% Libor floor) tight of talk at an issue price of 99.75 in a BofA Securities-led transaction, according to sources. The loan is quoted today at 99.75/100.25. Proceeds will be used to fund the company's acquisition of Sedgwick's group health peer review and independent medical examination assets. Atlanta-based ExamWorks provides independent medical examinations, peer reviews, bill reviews, Medicare compliance, case management and other related services. The company is backed by Leonard Green & Partners and GIC Private Ltd. Terms:

Borrower ExamWorks Group Inc.
Issue $125 million fungible incremental term loan B
UoP M&A
Spread L+325
LIBOR floor 1.00%
Price 99.75
Tenor July 2023
YTM 4.43%
Four-year yield --
Call protection N/A
Corporate ratings B/B2
Facility ratings B/B1
Recovery ratings 3
Financial covenants None
Arrangers BofA/Barc
Admin agent BofA
Px Talk L+325/1%/99.52
Sponsor Leonard Green/GIC
Notes