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Bank of America Agents $325MM Credit Facility with U.S. Physical Therapy
Wednesday, June 22, 2022

Lenders/Participants Bank of America [Administrative Agent]
Bank of America Securities [Joint Lead Arranger, Sole Bookrunner]
Regions Capital Markets [Joint Lead Arranger]
Structure $150MM Term Loan; $175MM Revolver
Amount $325.000 Million
Borrower(s) U.S. Physical Therapy
Description 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.
Industry Healthcare
Related Tags Bank of America Securities, Regions Capital Markets