debt
confidence high
sentiment neutral
materiality 0.60
Alignment Healthcare enters $250M term loan facility, repays $159.3M existing debt
Alignment Healthcare, Inc.
- Initial $165M drawn Sep 2, 2022; up to $85M delayed draw available through Sep 2027.
- Proceeds used to repay $159.3M existing term loan with CRG Servicing LLC.
- Interest rate = 1-month SOFR (floor 1%) + 6.50% margin; maturity Sep 1, 2027.
- Covenants: minimum liquidity $23M and maximum debt/trailing 12-month revenue ratio.
- Borrower granted first-priority security interest in substantially all assets; health plan subsidiaries not guarantors.