Intermedica shops senior secured facility

Intermedica shops senior secured facility

Capital Markets Loans Brazil

Brazilian Notre Dame Intermedica is after $220m in syndicated bank debt, according to sources. The healthcare services provider is shopping the deal just weeks after it acquired rival Greenline for approximately $319m.

Citi structured and underwrote the transaction and is syndicating the senior secured facility among other banks, according to two sources.

In September, Intermedica said it intended to acquire the Green Line Group and at the time it valued the local peer at roughly $290m.

The acquisition gives Intermedica a medical lab unit, health insurance operations and two hospitals.

Intermedica's shares jumped almost 20% shortly after the company debuted on the Bovespa stock exchange. The healthcare operator raised BRL2.2bn ($650m) from its IPO in April.


Image: Downtown Sao Paulo. Diego Torres Silvestre.