Curo Health Services to launch $485 million credit facility on Friday

By Sara Rosenberg

New York, May 7 - Curo Health Services will hold a bank meeting on Friday to launch a $485 million credit facility, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The facility consists of a $35 million five-year revolver, a $335 million seven-year first-lien term loan and a $115 million 71/2-year second-lien term loan, the source said.

Proceeds will be used to fund the acquisition of SouthernCare Inc., to refinance existing debt and for general corporate purposes.

Curo Health is a Mooresville, N.C.-based provider of home health care and hospice services. SouthernCare is a Birmingham, Ala.-based hospice provider.

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