All Metro Health withdraws $255 million credit facilities from market

By Sara Rosenberg

New York, May 25 – All Metro Health Care pulled its $255 million credit facilities from market as the company decided to stay with its existing privately-placed bank debt on revised terms instead of refinancing with the new transaction, according to a market source.

The withdrawn deal consisted of a $30 million five-year revolver priced at Libor plus 475 basis points with no floor and an original issue discount of 99 and a $225 million six-year term loan B priced at Libor plus 475 bps with a 1% Libor floor and a discount of 99.

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

While being marketed, pricing on the revolver and term loan had been increased from Libor plus 450 bps, and following that change, the transaction was fully syndicated.

Capital One and BMO Capital Markets Corp. were the bookrunners on the deal.

All Metro, a One Equity Partners portfolio company, is a Valley Stream, N.Y.-based provider of home care services in New York, Pennsylvania, New Jersey and Florida.

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