Option Care launches $404 million term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, May 30 – Option Care (HC Group Holdings III Inc.) held a lender call at 2 p.m. ET on Wednesday to launch a $404 million covenant-light term loan B due April 7, 2022 that is talked at Libor plus 375 basis points to 400 bps with a 0% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch is the lead arranger on the deal.

Commitments are due at noon ET on June 6, the source added.

Proceeds will be used to refinance an existing term loan B.

Option Care is a provider of home and alternate treatment site infusion therapy services.

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