Business
GoHealth Amends Credit Agreement
Lowers Borrowing Costs of $300 Million Term Loan and $200 Million Undrawn Revolver CHICAGO, June 14, 2021 /PRNewswire/ -- GoHealth, Inc. (GoHealth) (NASDAQ:
About this update from Gohealth, Inc.
[{"type":"text","content":"Lowers Borrowing Costs of $300 Million Term Loan and $200 Million Undrawn Revolver\n\n\nCHICAGO, June 14, 2021 /PRNewswire/ -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced today that it had refinanced $296 million of its outstanding term loan. The Company's amended credit facility lowers the interest rate to 4% and reduces the Company's annual borrowing costs by over $7 million.\n\n \n \n \n \n \n \n\n \nThis amended facility also reduces the borrowing costs of the Company's recently upsized revolver to 4%, with all $200 million available as of the end of May 31, 2021.\nAll other material terms of these debt instruments remain unchanged. \nTravis Matthiesen, GoHealth's CFO said, \"As the leading Medicare marketplace, we enjoy strong access to favorable debt financing to fund our growth and seasonal working capital requirements. We remain bullish on our long-term growth prospects in a buoyant Medicare market and are tracking well toward another year of high-quality growth as we ramp our 2021 investments into this year's Annual Enrollment Period.\"\nAbout GoHealth, Inc.: \nAs a leading health insurance marketplace and Medicare-focused digital health company, GoHealth's mission is to improve access to healthcare in America. Enrolling in a health insurance plan can be confusing for customers, and the seemingly small differences between plans can lead to significant out-of-pocket costs or lack of access to critical medicines and even providers. GoHealth combines cutting-edge technology, data science and deep industry expertise to match customers with the healthcare policy and carrier that is right for them. Since its inception, GoHealth has enrolled millions of people in Medicare and individual and family plans. For more information, visit https://www.gohealth.com.\nForward-Looking Statements\nThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms, such as \"may,\" \"will,\" \"should,\" \"expects,\" \"plans,\" \"anticipates,\" \"could,\" \"intends,\" \"targets,\" \"projects,\" \"contempl...