Aveanna finalizes $185 million term loan at Libor plus 625 bps

By Sara Rosenberg

New York, Sept. 17 – Aveanna Healthcare LLC firmed the spread on its non-fungible $185 million incremental first-lien term loan (CCC+) due March 16, 2024 at Libor plus 625 basis points, the low end of the Libor plus 625 bps to 650 bps talk, according to a market source.

Also, the original issue discount on the term loan finalized at 98, the tight end of the 97 to 98 talk, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for one year.

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

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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