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AccentCare cuts spread on $873 million loan to Libor plus 400 bps
By Sara Rosenberg
New York, June 14 – AccentCare Inc. lowered pricing on its $873.4 million term loan B (B-) due June 2026 to Libor plus 400 basis points from talk in the range of Libor plus 425 bps to 450 bps, according to a market source.
The term loan still has a 0% Libor floor, a par issue price and 101 soft call protection for six months.
JPMorgan Chase Bank is the lead on the deal.
Proceeds will be used to combine two term loans into one tranche through a refinancing/repricing.
AccentCare, an Advent International portfolio company, is a Dallas-based provider of post-acute health care.
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