AccentCare widens pricing on first- and second-lien term loans

By Sara Rosenberg

New York, Sept. 4 – AccentCare increased pricing on its first- and second-lien term loans, revised the original issue discount on the second-lien tranche and sweetened the call protection on the first-lien debt.

Under the changes, the spread on the $105 million six-year first-lien term loan B was flexed up to Libor plus 575 basis points from Libor plus 475 bps and pricing on the $35 million seven-year second-lien term loan was lifted to Libor plus 950 bps from Libor plus 875 bps, the source said.

Also, the original issue discount on the second-lien term loan widened to 98.25 from 98.5.

Furthermore, the 101 soft call protection on the first-lien term loan was extended to one year from six months, the source continued.

As before, both term loans have a 1% Libor floor, the first-lien term loan has an original issue discount of 99 and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Along with the term loans, the company’s $170 million senior credit facility includes a $30 million five-year revolver.

GE Capital Markets led the deal.

Proceeds from the credit facility, which has closed, were used to refinance existing debt.

AccentCare, an Oak Hill portfolio company, is a Dallas-based home health provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.