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AccentCare sets Feb. 2 launch for $205 million credit facility
By Sara Rosenberg
New York, Jan. 26 - AccentCare Inc. has scheduled a bank meeting for Feb. 2 to launch its proposed $205 million credit facility, according to a market source.
GE Capital, Bank of Ireland and CIT are the joint lead arrangers on the facility, with GE the left lead.
The facility consists of a $25 million revolver and a $180 million term loan, the source said.
Proceeds will be used to help fund the buyout of the company by Oak Hill Capital Partners.
AccentCare is an Irvine, Calif.-based provider of home health care services.
Following completion of the buyout, Oak Hill will merge AccentCare with Guardian Home Care Holdings Inc., a Brentwood, Tenn.-based provider of homecare and hospice services that was recently acquired from Friedman Fleischer & Lowe.
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