Sevita launches $200 million incremental term loan B at 98.56 OID

By Sara Rosenberg

New York, Dec. 7 – Sevita launched on Tuesday its fungible $200 million incremental first-lien term loan B due March 2028 (B3/B) with original issue discount talk of 98.56, according to a market source.

Pricing on the incremental term loan is Libor plus 375 basis points with 25 bps steps at 4.9x and 4.4x first-lien net leverage and a 0.75% Libor floor, in line with existing term loan B pricing.

The incremental term loan has 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Commitments are due at noon ET on Dec. 15, the source added.

Proceeds will be used to fund the company’s acquisition pipeline.

Sevita, formerly known as the Mentor Network, is a Boston-based provider of home- and community-based health and human services for individuals with intellectual, developmental, physical or behavioral disabilities and other special needs.

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