Surgery Partners, Inc. (SGRY): debt financing — Surgery Partners enters $1.4B term loan and $703.75M revolver, refinances existing debt

Surgery Partners, Inc.

New $1.4B senior secured term loan due 2030 and $703.75M revolving credit facility due 2028.
Term loan bears interest at Term SOFR + 3.50%; revolving loans at Term SOFR + 3.25%.
Proceeds used to fully repay existing $1.4B term loan due 2026 and revolver, pay fees, and general corporate.
Term loan amortizes at 0.25% per quarter starting June 2024; mandatory prepayment triggers apply.
Facilities guaranteed by Holdings and domestic subsidiaries, secured by substantially all assets.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Surgery Partners, Inc. incurred revolving credit of $703.75 million with Jefferies Finance LLC at Term SOFR plus 3.25% per annum maturing December 19, 2028.

Instrument: revolving credit
Principal: $703.75 million
Counterparty: Jefferies Finance LLC
Rate: Term SOFR plus 3.25% per annum
Maturity: December 19, 2028
Event: incurrence

Exact text from the filing

providing for a $1,400 million senior secured term loan (the “Term Loan”) and a $703.75 million revolving credit facility (the “Revolver”

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Surgery Partners, Inc. incurred term loan of $1,400 million with Jefferies Finance LLC at Term SOFR plus 3.50% per annum maturing December 19, 2030.

Instrument: term loan
Principal: $1,400 million
Counterparty: Jefferies Finance LLC
Rate: Term SOFR plus 3.50% per annum
Maturity: December 19, 2030
Event: incurrence

Exact text from the filing

r the “Company”), entered into a credit agreement with Jefferies Finance LLC, as administrative agent and collateral agent, and the other financial institutions party thereto from time to time (the “Credit Agreement”), providing for a $1,400 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Surgery Partners, Inc. entered into Credit Agreement with Jefferies Finance LLC, as administrative agent and collateral agent, and the other financial institutions party thereto from time to time valued at $1,400 million senior secured term loan and a $703.75 million revolving credit facility (effective 2023-12-19).

Action: entry
Agreement: credit facility
Counterparty: Jefferies Finance LLC, as administrative agent and collateral agent, and the other financial institutions party thereto from time to time
Value: $1,400 million senior secured term loan and a $703.75 million revolving credit facility
Effective: 2023-12-19

Exact text from the filing

entered into a credit agreement with Jefferies Finance LLC, as administrative agent and collateral agent, and the other financial institutions party thereto from time to time (the "Credit Agreement"), providing for a $1,400 million senior secured term loan (the "Term Loan") and a $703.75 million revolving credit facility

View on SEC.gov

2 debt financings filed in the last 30 days. Browse all debt financings →

Surgery Partners, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-127412

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