---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-127412"
form_type: "8-K"
ticker: "SGRY"
cik: "0001638833"
company_name: "Surgery Partners, Inc."
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T09:52:00.243075+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Surgery Partners enters $1.4B term loan and $703.75M revolver, refinances existing debt

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-127412
- form_type: 8-K
- ticker: SGRY
- cik: 0001638833
- company_name: Surgery Partners, Inc.
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1638833/000110465923127412/0001104659-23-127412-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1638833/000110465923127412/tm2333274d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-127412
- JSON: https://secwatch.observer/filing/0001104659-23-127412.json
- Plain text: https://secwatch.observer/filing/0001104659-23-127412.txt

## Key facts
- Debt Financings
  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
  source text: providing for a $1,400 million senior secured term loan (the “Term Loan”) and a $703.75 million revolving credit facility (the “Revolver”
  evidence_url: https://www.sec.gov/Archives/edgar/data/1638833/000110465923127412/0001104659-23-127412-index.htm
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1638833/000110465923127412/0001104659-23-127412-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1638833/000110465923127412/0001104659-23-127412-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.