Option Care Health adds $50 million incremental term loan

By Sara Rosenberg

New York, May 1 – Option Care Health Inc. added a fungible $50 million incremental first-lien term loan due Oct. 27, 2028 to its transaction, according to a market source.

As previously reported, the company is also getting a $586.5 million repriced first-lien term loan due Oct. 27, 2028.

Pricing on the term loan debt is SOFR plus 225 basis points with no CSA, a 0.5% floor and a par issue price, in line with the talk announced when the repricing was launched last week.

The term loan debt is getting 101 soft call protection for six months.

BofA Securities Inc. is the left lead arranger on the deal.

Commitments were scheduled to be due at noon ET on Wednesday, the source added.

Proceeds from the incremental term loan will be used for general corporate purposes, and the repricing will take the existing term loan down from SOFR+CSA plus 275 bps with a 0.5% floor. Current CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Option Care is a Bannockburn, Ill.-based provider of home and alternative treatment site infusion therapy services.

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