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AdaptHealth Corp. Announces Refinancing of Senior Secured Credit Facility Resulting in Extended Maturity, Reduced Cost of Debt, and Enhanced Financial Flexibility
PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)-- AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered,
About this update from Adapthealth Corp.
[{"type":"text","content":" PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--\nAdaptHealth 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”).\n\nProceeds 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.\n\nThe 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.\n\nThe 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.\n\nA 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.\n\nAbout AdaptHealth Corp.\n\nAdaptHealth 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,...