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Option Care flexes $600 million term loan to Libor plus 275 bps
By Sara Rosenberg
New York, Oct. 22 – Option Care Health Inc. reduced pricing on its $600 million term loan B (Ba3/BB-) to Libor plus 275 basis points from talk in the range of Libor plus 300 bps to 325 bps, according to a market source.
Also, the original issue discount talk on the term loan was changed to a range of 99.5 to 99.75 from just 99.5, and then finalized at 99.75, the source said.
As before, the term loan has a 0.5% Libor floor and 101 soft call protection for six months.
BofA Securities Inc. is the left lead on the deal.
Recommitments were scheduled to be due at 12:30 p.m. ET on Friday, the source added.
Proceeds will be used to refinance existing debt.
Option Care is a Bannockburn, Ill.-based provider of home and alternate treatment site infusion therapy services.
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