Aveanna to launch $485 million second-lien term loan on Wednesday

By Sara Rosenberg

New York, May 14 – Aveanna Healthcare LLC is scheduled to hold a lender call at 9:30 a.m. ET on Wednesday to launch a $485 million eight-year senior secured second-lien term loan, according to a market source.

Barclays is the left lead bookrunner and the administrative agent on the deal.

The second-lien term loan has a 1% Libor floor, the source said.

Proceeds will be used to fund the acquisition of the home health care division of Maxim Healthcare Services and to reprice wider and extend an existing $240 million second-lien term loan.

Only the $245 million of incremental debt being raised will be offered with an original issue discount, the source added.

Closing is expected in the second quarter, subject to regulatory clearances and other customary conditions.

Bain Capital is the sponsor.

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

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