Mednax closes $1.1B financing, redeems $1B 6.25% notes due 2027

Pediatrix Medical Group, Inc.

Issued $400M 5.375% senior notes due 2030, new $450M revolver and $250M term loan.
Used proceeds plus cash to redeem all $1B of 6.25% senior notes due 2027.
Outstanding debt reduced to ~$750M; net proceeds from notes ~$394.5M after discounts.
Credit agreement amended with SOFR-based pricing, matures Feb 2027; lower margins.
Notes callable at make-whole before Feb 2025, then step-down redemption prices.

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