Curo Health launches incremental loan, term loan repricing to lenders

By Sara Rosenberg

New York, Feb. 2 – Curo Health Services Holdings, Inc. was scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a fungible $60 million incremental first-lien term loan B due Feb. 5, 2022 and repricing of its existing $373 million term loan B due Feb. 5, 2022, according to a market source.

Goldman Sachs Bank USA, Jefferies Finance LLC, SunTrust Robinson Humphrey Inc., Nomura, Citizens and Credit Suisse Securities (USA) LLC are the bookrunners on the deal.

The term loan debt is talked at Libor plus 475 basis points to 500 bps with a 1% Libor floor, the source said.

Original issue discount talk on the incremental term loan is 99.5, and the repricing is offered at par.

Included in the term loan debt is 101 soft call protection for six months and amortization of 1% per annum, the source continued.

Proceeds from the incremental loan will be used to repay second-lien notes, and the repricing will take the existing term loan down from Libor plus 550 bps with a 1% Libor floor.

Curo Health is a Mooresville, N.C.-based pure play hospice provider.

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