Aveanna talks $185 million term loan at Libor plus 625-650 bps

By Sara Rosenberg

New York, Sept. 10 – Aveanna Healthcare LLC launched on Thursday its non-fungible $185 million incremental first-lien term loan due March 16, 2024 with price talk of Libor plus 625 basis points to 650 bps with a 1% Libor floor and an original issue discount of 97 to 98, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Barclays, BMO Capital Markets and Jefferies LLC are the bookrunners on the deal. Barclays is the administrative agent.

Commitments are due at 5 p.m. ET on Sept. 17, the source added.

Proceeds will be used for general corporate purposes including tuck-in acquisitions, fees and expenses, and balance sheet cash.

Bain Capital and J.H. Whitney are the sponsors.

Aveanna Healthcare is an Atlanta-based home health care company.

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