Aveanna Healthcare wraps $415M 2nd-lien term loan for M&A; terms

Investors have received allocations of Aveanna Healthcare LLC's $415 million, eight-year second-lien term loan that priced at the wide end of talk at L+700, with a 0.50% Libor floor and an issue price of 99 in a Barclays-led transaction, according to sources. Proceeds from the deal, combined with roughly $60 million of cash from the balance sheet and $120 million of borrowings from a new $150 million securitization facility, will be used to finance the acquisitions of Comfort Care Home Health and Hospice for $345 million and Accredited Home Care for $225 million. Atlanta-based Aveanna provides pediatric and adult healthcare services, with operations in 30 states.

Terms: