AccentCare flexes $355 million term loan to Libor plus 500 bps

By Sara Rosenberg

New York, June 18 – AccentCare Inc. raised pricing on its $355 million seven-year first-lien term loan (B2/B) to Libor plus 500 basis points from talk in the range of Libor plus 425 bps to 450 bps, according to a market source.

Additionally, the 101 soft call protection on the term loan was extended to one year from six months and some documentation changes were made, the source said.

The term loan still has a 0% Libor floor and an original issue discount of 99.

J.P. Morgan Securities LLC is the lead on the deal.

Proceeds will be used to help fund the buyout of the company by Advent International from Oak Hill Capital Partners.

AccentCare is a Dallas-based provider of post-acute health care.

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