Leaf Home firms $1.41 billion term loan B at SOFR plus 475 bps

By Sara Rosenberg

New York, Feb. 16 – Leaf Home (LHS Borrower LLC) set pricing on its $1.41 billion seven-year term loan B (B1/B) at SOFR+CSA plus 475 basis points, the high end of the SOFR+CSA plus 450 bps to 475 bps talk, according to a market source.

In addition, the 25 bps step-down based on net leverage and 25 bps step-down upon an initial public offering were removed from the term loan, the source said.

As before, the term loan has a 0.5% floor, an original issue discount of 99, CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, and 101 soft call protection for six months.

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.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, 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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