KKR-backed GenesisCare taps US debt markets
GenesisCare, a healthcare business controlled by KKR, has become the latest Australian PE-backed company to refinance its debt via the US high-yield market. A string of corporates are taking advantage of strong liquidity in the US leveraged market, where the terms are seen as better than those available domestically.
GenesisCare is seeking $245 million in first lien, senior secured Term Loan B financing, plus a revolving credit facility of A$30 million ($28 million). The company will fully hedge its forecast principal...
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