AdaptHealth Corp. Announces Refinancing of Senior Secured Credit Facility Resulting in Extended Maturity and Reduced Cost of Debt
16 Settembre 2024 - 2:00PM
Business Wire
AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the
“Company”), a national leader in providing patient-centered,
healthcare-at-home solutions including home medical equipment,
medical supplies, and related services, announced today that it has
closed a $950 million senior secured credit facility, consisting of
a fully funded $650 million Term Loan A (the “Term Loan”), and a
$300 million revolving line of credit (the “Revolver”).
Proceeds from the new $650 million Term Loan were used to fully
repay, without penalty, the Company’s existing Term Loan due to
reach final maturity in January 2026.
The new $300 million Revolver replaces the Company’s existing
$450 million revolving credit facility, which had no balance drawn
at the time the Credit Facility closed. The reduced Revolver size
decreases undrawn commitment fees.
The interest rate pricing for the new senior secured credit
facility decreased from the interest rate pricing in AdaptHealth’s
existing bank credit facility, and the new maturity is extended up
to September 13th, 2029.
A total of 13 lenders participated in the Company’s new Credit
Facility, including Regions Bank as Administrative Agent, and
Regions Capital Markets, a division of Regions Bank, BOFA
Securities, Inc., Capital One, National Association, Citizens Bank,
N.A., Fifth Third Bank, National Association, JPMorgan Chase, N.A.
and Truist Securities, Inc. acted as as Joint Lead Arrangers and
Joint Bookrunners.
About AdaptHealth Corp.
AdaptHealth is a national leader in providing patient-centered,
healthcare-at-home solutions including home medical equipment
(HME), medical supplies, and related services. The Company provides
a full suite of medical products and solutions designed to help
patients manage chronic conditions in the home, adapt to challenges
in their activities of daily living, and thrive. Product and
service offerings include (i) sleep therapy equipment, supplies,
and related services (including CPAP and bi PAP services) to
individuals suffering from obstructive sleep apnea, (ii) medical
devices and supplies to patients for the treatment of diabetes
(including continuous glucose monitors and insulin pumps), (iii)
HME to patients discharged from acute care and other facilities,
(iv) oxygen and related chronic therapy services in the home, and
(v) other HME devices and supplies on behalf of chronically ill
patients with wound care, urological, incontinence, ostomy and
nutritional supply needs. The Company is proud to partner with an
extensive and highly diversified network of referral sources,
including acute care hospitals, sleep labs, pulmonologists, skilled
nursing facilities, and clinics. AdaptHealth services beneficiaries
of Medicare, Medicaid, and commercial insurance payors, reaching
approximately 4.2 million patients annually in all 50 states
through its network of approximately 680 locations in 47
states.
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version on businesswire.com: https://www.businesswire.com/news/home/20240916696862/en/
AdaptHealth Corp. Jason Clemens, CFA Chief Financial Officer
Investor Relations ICR Westwicke IR@adapthealth.com
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