Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for National Mentor Inc. > News item |
National Mentor tightens issue price on $205 million term loan to par
By Sara Rosenberg
New York, Feb. 7 – National Mentor changed the issue price on its fungible $205 million incremental first-lien term loan B (B2/B) due March 2026 to par from talk in the range of 99.5 to 99.75, according to a market source.
Pricing on the term loan is Libor plus 425 basis points with a 25 bps step-down at 4x net first-lien leverage and a 0% Libor floor, in line with existing term loan B pricing.
Goldman Sachs Bank USA, UBS Investment Bank and Barclays are the leads on the deal.
Recommitments were scheduled to be due at noon ET on Friday, the source added.
Proceeds will be used to refinance an existing second-lien term loan.
National Mentor, formerly known as Civitas Solutions Inc., 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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.