Aveanna launches $221 million in term loans at Libor plus 525 bps

By Sara Rosenberg

New York, June 13 – Aveanna Healthcare LLC launched on Wednesday its $171 million incremental first-lien term loan B and $50 million first-lien delayed-draw term loan B with price talk of Libor plus 525 basis points with a 1% Libor floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Delayed-draw term loan availability is 12 months and there is a ticking fee of half the margin from days zero to 30 and the full margin onwards.

The funded and delayed-draw term loans are offered as pro rata strip.

Barclays and BMO Capital Markets are the bookrunners on the $221 million in term loans.

Commitments are due at 5 p.m. ET on June 26, the source added.

Proceeds will be used to fund the acquisition of Premier Healthcare Services LLC.

Closing is expected in mid to late June.

Bain Capital is the sponsor.

Aveanna Healthcare is an Atlanta-based pediatric home health care company. Premier Healthcare is a Pasadena, Calif.-based provider of pediatric services.

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