BrightSpring to pay down term loans, revolver with IPO proceeds

By Sara Rosenberg

New York, Jan. 17 – BrightSpring Health Services Inc. plans to repay its second-lien term loan in full, $652 million of its first-lien term loan debt and all borrowings under its revolving credit facility using proceeds from its planned initial public offering of common stock and concurrent offering of tangible equity units, according to an S-1/A filed with the Securities and Exchange Commission on Wednesday.

Any remaining proceeds will be used for general corporate purposes.

As of Sept. 30, the company had $450 million outstanding under its second-lien term loan due March 5, 2027, $2.9169 billion outstanding under its first-lien term loan due March 5, 2026 and $173.1 million outstanding under its revolver due June 30, 2028.

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

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