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Morgan Stanley, Credit Suisse, Truist Bank Arrange Senior Secured Credit Facilities for Tivity Health

June 08, 2021, 07:00 AM
Filed Under: Healthcare

Tivity Health has launched the syndication of new senior secured credit facilities, comprised of a senior secured revolving facility and a senior secured term loan B facility (the "senior secured credit facilities"). The closing of the proposed term facilities and the terms thereof are subject to obtaining lender commitments, as well as market and other conditions. The Company intends to use the proceeds of the credit facilities to repay all outstanding amounts under its existing credit agreement and for general corporate purposes. The credit facilities are expected to enable investments for growth while also improving financial flexibility through decreased interest expense, lower mandatory amortization, and extended tenor.

Morgan Stanley, Credit Suisse and Truist Bank are acting as joint lead arrangers and bookrunners for the transaction.

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