TPG’s BVI Medical Seeks $800 Million From Private Credit

TPG Inc.-backed medical manufacturing company BVI Medical Inc. is seeking about $800 million from private credit lenders to refinance its debt, according to people with knowledge of the matter.

The debt package may include a $550 million first-lien term loan, which could price at around 5 percentage points over the benchmark rate and will be covenant-lite, said the people, who asked not to be identified discussing private information. The sponsor is also seeking a $250 million second-lien term loan, in which participation is required to get into the first-lien, they added.

A representative for TPG declined to comment, while ...