AdaptHealth Corp. Announces Refinancing of Senior Secured Credit Facility Resulting in Extended Maturity and Reduced Cost of Debt
AdaptHealth Corp. (NASDAQ: AHCO), a leading provider of healthcare-at-home solutions, has successfully refinanced its senior secured credit facility. The new facility includes a $650 million Term Loan A and a $300 million revolving line of credit, totaling $950 million. This refinancing brings several benefits:
1. Extended maturity up to September 13, 2029
2. Reduced interest rate compared to the previous facility
3. Decreased undrawn commitment fees due to a smaller revolving credit line
The Term Loan proceeds were used to repay the existing loan due in January 2026, without incurring penalties. The new facility involved 13 lenders, with Regions Bank acting as the Administrative Agent.
AdaptHealth Corp. (NASDAQ: AHCO), un fornitore leader di soluzioni sanitarie a domicilio, ha rifinanziato con successo la sua linea di credito senior garantita. La nuova linea include un Prestito a Termine A da 650 milioni di dollari e una linea di credito revolving da 300 milioni di dollari, per un totale di 950 milioni di dollari. Questo rifinanziamento porta diversi vantaggi:
1. Scadenza estesa fino al 13 settembre 2029
2. Tasso d'interesse ridotto rispetto alla linea precedente
3. Commissoni per impegno non utilizzato diminuiti grazie a una minore linea di credito revolving
I proventi del Prestito a Termine sono stati utilizzati per ripagare il prestito esistente in scadenza a gennaio 2026, senza incorrere in penalità. La nuova linea ha coinvolto 13 creditori, con Regions Bank che funge da Agente Amministrativo.
AdaptHealth Corp. (NASDAQ: AHCO), un proveedor líder de soluciones de atención médica a domicilio, ha refinanciado con éxito su línea de crédito senior garantizada. La nueva línea incluye un Préstamo a Plazo A de 650 millones de dólares y una línea de crédito revolvente de 300 millones de dólares, sumando un total de 950 millones de dólares. Este refinanciamiento trae varios beneficios:
1. Extensión del vencimiento hasta el 13 de septiembre de 2029
2. Tasa de interés reducida en comparación con la línea anterior
3. Disminución de las comisiones por compromisos no utilizados debido a una línea de crédito revolvente más pequeña
Los fondos del Préstamo a Plazo se utilizaron para pagar el préstamo existente que vence en enero de 2026, sin incurrir en penalizaciones. La nueva línea involucró a 13 prestamistas, con Regions Bank actuando como Agente Administrativo.
AdaptHealth Corp. (NASDAQ: AHCO)는 가정 건강 관리 솔루션의 주요 제공업체로서 선순위 보안 신용 시설을 성공적으로 재융자했습니다. 새로운 시설에는 6억 5천만 달러의 터미널 대출 A와 3억 달러의 회전 신용 한도가 포함되어 총 9억 5천만 달러에 달합니다. 이번 재융자는 여러 가지 이점을 제공합니다:
1. 만기 연장 - 2029년 9월 13일까지
2. 이자율 인하 - 이전 시설과 비교하여
3. 미사용 약정 수수료 감소 - 작은 회전 신용 한도로 인한
터미널 대출의 수익은 2026년 1월에 만기가 도래하는 기존 대출을 벌금 없이 상환하는 데 사용되었습니다. 새로운 시설은 총 13명의 대출자가 참여했으며 Regions Bank가 관리 에이전트로 활동했습니다.
AdaptHealth Corp. (NASDAQ: AHCO), un fournisseur leader de solutions de santé à domicile, a réalisé avec succès le refinancement de sa ligne de crédit senior sécurisée. La nouvelle ligne comprend un prêt à terme A de 650 millions de dollars et une ligne de crédit revolving de 300 millions de dollars, totalisant 950 millions de dollars. Ce refinancement apporte plusieurs avantages :
1. Prolongation de l'échéance jusqu'au 13 septembre 2029
2. Taux d'intérêt réduit par rapport à l'ancienne ligne
3. Frais d'engagement non tirés réduits grâce à une ligne de crédit revolving plus petite
Les produits du prêt à terme ont été utilisés pour rembourser le prêt existant dû en janvier 2026, sans encourir de pénalités. La nouvelle ligne a impliqué 13 prêteurs, Regions Bank agissant comme agent administratif.
AdaptHealth Corp. (NASDAQ: AHCO), ein führender Anbieter von häuslichen Gesundheitslösungen, hat erfolgreich seine senior gesicherte Kreditlinie refinanziert. Die neue Kreditlinie umfasst ein Terminkredit A über 650 Millionen Dollar und eine revolving Kreditlinie über 300 Millionen Dollar, insgesamt also 950 Millionen Dollar. Diese Refinanzierung bietet mehrere Vorteile:
1. Erweiterte Fälligkeit bis zum 13. September 2029
2. Reduzierter Zinssatz im Vergleich zur vorherigen Kreditlinie
3. Verminderte Gebühren für nicht in Anspruch genommene Zusagen aufgrund einer kleineren revolving Kreditlinie
Die Erlöse des Terminkredits wurden zur Rückzahlung des bestehenden Darlehens verwendet, das im Januar 2026 fällig wurde, ohne dass Strafen entstanden. Die neue Kreditlinie wurde von 13 Kreditgebern bereitgestellt, wobei Regions Bank als Verwaltungsagent fungierte.
- Successful refinancing of $950 million senior secured credit facility
- Extended maturity to September 13, 2029, improving long-term financial stability
- Reduced interest rate, potentially lowering debt servicing costs
- Decreased undrawn commitment fees due to smaller revolving credit line
- Strong lender participation with 13 financial institutions involved
- Reduced revolving credit facility from $450 million to $300 million, potentially limiting future borrowing capacity
Insights
AdaptHealth's refinancing of its senior secured credit facility is a strategic move that strengthens the company's financial position. The new
- Extended maturity to September 2029, providing long-term stability
- Reduced interest rate, lowering the cost of debt
- Decreased undrawn commitment fees due to smaller Revolver size
This refinancing demonstrates lenders' confidence in AdaptHealth's creditworthiness and future prospects. The participation of 13 lenders, including major financial institutions, further validates the company's strong market position. For investors, this move signals improved financial flexibility and potentially higher profitability due to reduced interest expenses, which could positively impact the company's bottom line in the coming years.
AdaptHealth's successful refinancing underscores its solid standing in the rapidly growing healthcare-at-home sector. As a national leader in patient-centered, home-based healthcare solutions, the company is well-positioned to capitalize on the increasing demand for home medical equipment and related services. The extended credit facility maturity until 2029 provides AdaptHealth with a stable financial foundation to pursue long-term growth strategies and potential acquisitions in this expanding market.
The reduced cost of debt could allow AdaptHealth to invest more in innovation, expand its service offerings, or improve operational efficiency. This financial flexibility is important in the dynamic healthcare landscape, where adaptability and scalability are key to maintaining a competitive edge. Investors should view this refinancing as a positive indicator of the company's ability to navigate the complex healthcare market while maintaining a strong financial position.
Proceeds from the new
The new
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.
View source 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
Source: AdaptHealth Corp.
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