HomeServe launches $1.05 billion term loan B at SOFR plus 325-350 bps

By Sara Rosenberg

New York, Oct. 3 – HomeServe North America launched on Tuesday its $1.05 billion seven-year term loan B (B1/BB-) with price talk of SOFR plus 325 basis points to 350 bps with a 0% floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc., MUFG, RBC Capital Markets, ING, BofA Securities Inc. and Brookfield Capital Solutions are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on Oct. 12.

Proceeds will be used to refinance the company’s existing capital structure.

HomeServe is a Norwalk, Conn.-based provider of low-cost service plans, repair and energy efficiency services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.