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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Bank of America Agents $325MM Credit Facility with U.S. Physical Therapy
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Lenders/Participants
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Bank of America [Administrative Agent]
Bank of America Securities [Joint Lead Arranger, Sole Bookrunner]
Regions Capital Markets [Joint Lead Arranger]
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Structure
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$150MM Term Loan; $175MM Revolver
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Amount
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$325.000
Million
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Borrower(s)
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U.S. Physical Therapy
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Description
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Five-year credit facility that includes a $150 million term loan and a $175 million revolver. Based on strong lender support, the credit facility was upsized from its $300 million launch amount. This is an increase and extension of the Company’s previous $150 million credit facility. The Company concurrently announced that it entered into an interest rate swap agreement in May, with a June 30 effective date, to lock the 1-month term SOFR rate on $150 million of its debt at a 5-year swap rate of 2.815%. The total interest rate in any particular period will also include an applicable margin based on the Company’s consolidated leverage ratio.
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Industry
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Healthcare
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| Related Tags |
Bank of America Securities, Regions Capital Markets
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ABL Advisor
Deal Tables
2024
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