BrightSpring launches $600 million term loan at 99.75-par OID

By Sara Rosenberg

New York, Feb. 16 – BrightSpring Health Services (Phoenix Guarantor Inc.) held a lender call on Tuesday to launch a fungible $600 million incremental first-lien term loan due March 2026 that is talked with an original issue discount of 99.75 to par, according to a market source.

Pricing on the incremental term loan is Libor plus 375 basis points with a 0.5% Libor floor.

The incremental term loan has 101 soft call protection through April 7, the source said.

Jefferies LLC, KKR Capital Markets LLC, Morgan Stanley Senior Funding Inc., Credit Suisse Securities (USA) LLC, BMO Capital Markets, Deutsche Bank Securities Inc., BofA Securities Inc., HSBC Securities (USA) Inc., Credit Agricole and Natixis are the bookrunners on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used to fund an acquisition.

BrightSpring Health is a Louisville, Ky.-based provider of home and community-based health services.

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