Leaf Home readies launch of $1.41 billion term loan B for Thursday

By Sara Rosenberg

New York, Feb. 2 – Leaf Home (LHS Borrower LLC) is scheduled to hold a lender call at 11 a.m. ET on Thursday to launch a $1.41 billion seven-year term loan B (B), according to a market source.

JPMorgan Chase Bank, Barclays, BofA Securities Inc., Goldman Sachs Bank USA, KeyBanc Capital Markets, Truist, Huntington, Golub Capital and Citizens are the leads on the deal.

Price talk on the term loan is SOFR+CSA plus 450 basis points to 475 bps with a 25 bps step-down based on net leverage and a 25 bps step-down upon an initial public offering, a 0.5% floor and an original issue discount of 99, the source said.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

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

Commitments are due at 5 p.m. ET on Feb. 15, the source added.

Proceeds will be used to refinance an existing $1.358 billion term loan B and to pay associated fees and expenses.

Leaf Home is a Hudson, Ohio-based technology-enabled direct-to-consumer provider of home solutions.

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