Help at Home reveals revised structure, price talk with launch

By Sara Rosenberg

New York, Oct. 6 – Help at Home LLC (HAH Group Holding Co. LLC) held its bank meeting on Tuesday and announced a change to structure and price talk, according to a market source.

The seven-year first-lien term loan is now sized at $515 million, up from $440 million, and plans were terminated for a $75 million first-lien delayed-draw term loan with three months availability, the source said.

The $819 million of credit facilities still include a $74 million five-year revolver, a $65 million first-lien delayed-draw term loan with 24 months availability and a $165 million privately placed eight-year second-lien term loan.

Price talk on the first-lien term loan debt is Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 98.5, the source continued.

Included in the first-lien term loan is 101 soft call protection for six months.

The delayed-draw term loan has a ticking fee of half the spread from days 46 to 90 and the full spread thereafter. No floors will be paid.

Jefferies LLC, Barclays, BMO Capital Markets and UBS Investment Bank are the lead arrangers on the deal.

Commitments are due at noon ET on Oct. 20, the source added.

Proceeds will be used to help fund the acquisition of the company by Centerbridge Partners and the Vistria Group.

Help at Home is a Chicago-based provider of home care and support to the elderly and people with disabilities in their homes and community-based settings.

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