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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
SunTrust Bank Agents Revolving and Term Facilities for Tivity Health
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Lenders/Participants
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SunTrust Bank [Administrative Agent]
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Structure
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Revolving & Term Debt Facilities
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Amount
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$320.000
Million
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Borrower(s)
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Tivity Health, Inc.
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Description
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Revolving Credit and Term Loan Agreement. The Credit Agreement provides the Company with (1) a $100 million revolving credit facility that includes a $25 million sublimit for swingline loans and a $75 million sublimit for letters of credit, (2) a $70 million term loan A facility, (3) a $150 million delayed draw term loan facility, and (4) an uncommitted incremental accordion facility of $100 million. Borrowings under the Credit Agreement generally bear interest at variable rates based on a margin or spread in excess of either (1) the one-month, two-month, three-month or six-month rate (or with the approval of affected lenders, the twelve-month rate) for Eurodollar deposits ("LIBOR", which may not be less than zero), or (2) the greatest of (a) the SunTrust Bank prime lending rate, (b) the federal funds rate plus 0.50%, and (c) one-month LIBOR plus 1.00% (the "Base Rate"), as selected by the Company. The LIBOR margin varies between 1.50% and 2.75%, and the Base Rate margin varies between 0.50% and 1.75%, depending on the Company's net leverage ratio. The Credit Agreement also provides for annual fees ranging between 0.20% and 0.50% of the unused commitments under the revolving credit facility and the delayed draw term loan facility. Extensions of credit under the Credit Agreement are secured by guarantees from all of the Company's active material subsidiaries and by security interests in substantially all of the Company's and such subsidiaries' assets.
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Industry
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Healthcare
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| Related Tags |
SunTrust Bank
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ABL Advisor
Deal Tables
2024
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