Daily News: March 5, 2014

Healthcare Finance Group Agents $79MM Long’s Drugs Facility

Healthcare Finance Group announced it arranged a $79MM debt facility for Long’s Drugs. Healthcare Finance Group (HFG), a portfolio company of Fifth Street Finance, acted as sole lead arranger, administrative agent and lender for a $66 million senior debt facility, and Fifth Street acted as administrative agent, sole lead arranger and lender for a $13 million subordinated debt facility.

Geoffrey S. Raker, partner of Tailwind, commented, “We are pleased to have had the opportunity to work with the HFG team who successfully executed the senior debt syndication. We look forward to having HFG, as well as Fifth Street, as our debt partner on other transactions in the future.”

Jim Gelwicks, head of Capital Markets and Business Development for HFG, said, “We appreciate Tailwind’s confidence in HFG’s ability to fully underwrite the senior debt and close the transaction. This transaction illustrates HFG’s ability to agent cash-flow senior debt, as well as the benefit of working with Fifth Street to support a company’s expansion. We look forward to executing other healthcare transactions where both HFG and Fifth Street can work together in support of middle market healthcare companies.”

Columbia, SC-headquartered Long’s Drugs provides retail pharmacy services through 18 stores and distributes specialty pharmaceuticals for the treatment of chronic and other diseases.