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AccentCare sets $350 million term loan B spread at Libor plus 450 bps
By Sara Rosenberg
New York, Jan. 29 – AccentCare Inc. finalized pricing on its $350 million term loan B at Libor plus 450 basis points, the high end of the Libor plus 425 bps to 450 bps talk, according to a market source.
The term loan B still has a 25 bps step-down at B2/B ratings and a par issue price.
J.P. Morgan Securities LLC is the lead on the deal.
Proceeds will be used to reprice an existing term loan down from Libor plus 500 bps with a 0.5% Libor floor.
AccentCare, an Advent International portfolio company, is a Dallas-based provider of post-acute health care.
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