GE Capital last week launched syndication of a $113 million facility backing TA Associates acquisition of Youth and Family Centered Services (YFCS). The facility comprises a six-year, $20 million revolver and seven-year, $93 million "B" loan. Price talk on the "B" loan and revolver is LIBOR plus 3 1/2% and LIBOR plus 3%, respectively.
GE is the lead on YFCS' existing $60 million credit facility. Closing senior leverage is roughly three times, while total leverage is around four times. The sponsor and management are providing about $115 million in junior capital. Richard Tadler, a managing director with TA Associates, and Mark Nunn, YFCS' cfo, did not return calls. A GE banker declined comment.