Almost Family gets $125 million five-year revolver led by JPMorgan

By Sara Rosenberg

New York, Dec. 8 - Almost Family Inc. closed on a new $125 million five-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

JPMorgan acted as the lead arranger, bookrunner and administrative agent on the deal that was effective on Dec. 2.

Initial pricing on the revolver is Libor plus 225 basis points with a 30 bps unused fee. Pricing can range from Libor plus 225 bps to 325 bps and the unused fee can range from 30 bps to 50 bps, based on leverage.

There is a $50 million accordion feature.

Financial covenants include an adjusted fixed-charge coverage ratio, a leverage ratio and net worth.

Proceeds were used to refinance an existing credit facility and will be used for general corporate purposes, including acquisitions.

Almost Family is a Louisville, Ky.-based provider of home health services.

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