Aveanna (AVAH) Healthcare announced the closing of its refinanced first lien credit facility. The refinanced credit facility provides for the refinancing of the $886M principal balance of existing first lien term loans, the additional borrowing of $439M in incremental first lien term loans, and the upsize of its revolving credit facility from $170.3M of maximum availability to $250M of maximum availability. The combined $1.325B first lien term loans’ maturity dates were extended to 2032, and the revolving credit facility’s maturity date was extended from 2028 to 2030. Proceeds from the incremental first lien term loans were used to repay in full the existing second lien term loans in the amount of $415M, and as a result, the second lien term loan facility was subsequently terminated. Barclays Bank and Jeffries Finance served as co-lead arrangers.
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