AccentCare launches $205 million credit facility at Libor plus 500 bps

By Sara Rosenberg

New York, Feb. 1 - AccentCare Inc. launched a $205 million senior secured credit facility on Tuesday morning with price talk of Libor plus 500 basis points with a 1.5% Libor floor and an original issue discount of 981/2, according to a market source.

The facility consists of a $25 million revolver and a $180 million term loan.

GE Capital, Bank of Ireland and CIT are the joint lead arrangers on the facility, with GE the left lead.

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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