LaserAway Intermediate wraps $270 million credit facilities

By Sara Rosenberg

New York, Oct. 12 – LaserAway Intermediate Holdings II LLC completed syndication of $270 million of credit facilities, according to a market source.

Jefferies LLC, KKR Capital Markets and UBS Investment Bank are the arrangers on the deal.

The facilities consist of a $20 million five-year revolver and a $250 million six-year first-lien term loan.

Pricing on the term loan is Libor plus 575 basis points with a 0.75% Libor floor and an original issue discount of 98, the source said.

The term loan has 101 hard call protection for one year.

Allocations went out on Tuesday.

Proceeds will be used to fund a minority sale to Ares Management to partner with the founders and existing shareholders of LaserAway, including funds managed by Seidler Equity Partners.

LaserAway is an aesthetic dermatology provider of laser hair removal, laser tattoo removal and other dermatological services.

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