Healogics, an operator of advanced wound care centers and services to hospitals, has launched a $720 million loan offer to fund a buyout by private equity firm Clayton, Dubilier & Rice that was announced May 21.

The offer includes a $400 million first-lien cov-lite term loan, a $100 million first-lien revolver and a $220 million second-lien term loan, according to sources. The first-lien term loan matures in seven years, while the second-lien has an eight-year tenor. The upper middle market has seen a resurgence in covenant-lite loans as lenders continue to compete for deals.

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