ServiceMaster to launch $1.65 billion term B repricing on Wednesday

By Sara Rosenberg

New York, March 28 – ServiceMaster Co. LLC will hold a lender call at 11 a.m. ET on Wednesday to launch a repricing of its $1.65 billion term loan B due 2023, according to an informed source.

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

Talk on the repriced loan is Libor plus 200 basis points with a 0% Libor floor and a par issue price, the source said.

Included in the repriced loan is 101 soft call protection for six months.

The repricing will take the term loan B down from Libor plus 250 bps with a 0% Libor floor.

Commitments are due at noon ET on April 4.

Closing is expected in April.

ServiceMaster is a Memphis-based provider of residential and commercial services.

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