Gentiva tightens $500 million add-on term loan B OID to 98

By Sara Rosenberg

New York, Oct. 12 – Gentiva revised the original issue discount on its fungible $500 million add-on term loan B due February 2028 to 98 from talk in the range of 97 to 97.5, according to a market source.

Pricing on the add-on term loan is SOFR plus 525 basis points with a 0.5% floor, in line with existing term loan pricing.

The add-on term loan has amortization of 1% per annum and no call protection.

Goldman Sachs Bank USA, Deutsche Bank Securities Inc., UBS Investment Bank, BNP Paribas Securities Corp., Citizens Bank, Truist Securities, Wells Fargo Securities LLC, Mizuho and Natixis are the arrangers on the deal. Goldman Sachs is the administrative agent.

Commitments continue to be due at 10 a.m. ET on Friday, the source added.

Proceeds will be used to fund the acquisition of Heartland hospice and home care agencies/locations from ProMedica.

CD&R is the sponsor.

Gentiva is a provider of hospice, palliative, and personal care services.

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