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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Bank Syndicate Provides $950MM in Credit Facilities to AdaptHealth
Wednesday, September 18, 2024
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Lenders/Participants
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Regions Bank [Administrative Agent]
Regions Capital Markets [Joint Lead Arranger, Joint Bookrunner]
Bank of America Securities [Joint Lead Arranger, Joint Bookrunner]
Capital One [Joint Lead Arranger, Joint Bookrunner]
Citizens Bank [Joint Lead Arranger, Joint Bookrunner]
Fifth Third Bank [Joint Lead Arranger, Joint Bookrunner]
JPMorgan Chase Bank [Joint Lead Arranger, Joint Bookrunner]
Truist Securities [Joint Lead Arranger, Joint Bookrunner]
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Structure
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$650MM Term Loan A; $300MM Revolving Line of Credit
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Amount
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$950.000
Million
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Borrower(s)
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AdaptHealth Corp.
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Description
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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.
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Industry
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Medical
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Location
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PA
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ABL Advisor
Deal Tables
2024
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