---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-044694"
form_type: "8-K"
ticker: "BTSG"
cik: "0001865782"
company_name: "BrightSpring Health Services, Inc."
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T17:32:59.747096+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# BrightSpring closes $2.566B term loan refinancing, extends maturity to 2031

## Summary
- New $2.566B Tranche B-4 Term Loan priced at SOFR+3.25%, matures Feb 21, 2031.
- Proceeds used to refinance existing Tranche B-1 and B-3 term loans via cashless settlement or repayment.
- Revolving credit facility matures June 30, 2028; covenant applies when revolving usage exceeds 35%.
- Term loan margins: SOFR+3.25% or base rate+2.25%; revolving margins tiered by leverage ratio.
- Obligations guaranteed by material domestic subsidiaries and secured by first-priority liens on substantially all assets.

## SEC filing metadata
- accession: 0001193125-24-044694
- form_type: 8-K
- ticker: BTSG
- cik: 0001865782
- company_name: BrightSpring Health Services, Inc.
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1865782/000119312524044694/0001193125-24-044694-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865782/000119312524044694/d793103d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-044694
- JSON: https://secwatch.observer/filing/0001193125-24-044694.json
- Plain text: https://secwatch.observer/filing/0001193125-24-044694.txt

## Key facts
- Debt Financings
  BrightSpring Health Services, Inc. amended credit facility of $2,566,000,000 with Morgan Stanley Senior Funding Inc. as administrative agent and collateral agent at Term SOFR or base rate plus applicable margin; Term SOFR margin for Term Loans i maturing Term Loans mature on February 21, 2031; revolving loans mature on June 30, 2028.
  - Instrument: credit facility
  - Principal: $2,566,000,000
  - Counterparty: Morgan Stanley Senior Funding Inc. as administrative agent and collateral agent
  - Rate: Term SOFR or base rate plus applicable margin; Term SOFR margin for Term Loans i
  - Maturity: Term Loans mature on February 21, 2031; revolving loans mature on June 30, 2028
  - Event: amendment
  source text: agent and collateral agent. The Amendment provides for the establishment of a new tranche of term loans (the “ Term Loans ”) in an aggregate principal amount equal to $2,566,000,000, the proceeds of which will be used to refinance an equivalent amount of term loans outstanding under the Credit Agreement immediately before giving effect to the Amendment. The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1865782/000119312524044694/0001193125-24-044694-index.htm
- Material Agreements
  BrightSpring Health Services, Inc. entered into Joinder Agreement and Amendment No. 7 to First Lien Credit Agreement with Morgan Stanley Senior Funding Inc. valued at $2,566,000,000 Term Loans (new tranche established, refinancing prior term loans) (effective 2024-02-21).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Morgan Stanley Senior Funding Inc.
  - Value: $2,566,000,000 Term Loans (new tranche established, refinancing prior term loans)
  - Effective: 2024-02-21
  source text: On February 21, 2024, Phoenix Intermediate Holdings Inc. (“ Holdings ”) and Phoenix Guarantor Inc. (the “ Borrower ”), each a wholly-owned subsidiary of BrightSpring Health Services, Inc. (“ BrightSpring ”), entered into the Joinder Agreement and Amendment No. 7 (the “ Amendment ”) to the First Lien Credit Agreement, dated as of March 5, 2019 (as amended by the Technical Amendment, dated May 13, 2019, as supplemented by the Joinder Agreement, dated as of September 30, 2019, as amended by Amendment No. 1, dated as of January 30, 2020, as amended by the Joinder Agreement and Amendment No. 2, dated as of June 30, 2020, as amended by the Joinder Agreement and Amendment No. 3, dated as of October 7, 2020, as amended by Amendment No. 4, dated as of April 8, 2021, as amended by the Joinder Agreement and Amendment No. 5, dated as of April 16, 2021 and as amended by the Joinder Agreement and Amendment No. 6, dated as of June 30, 2023, the “ Credit Agreement ”, and as amended by the Amendment, t
  evidence_url: https://www.sec.gov/Archives/edgar/data/1865782/000119312524044694/0001193125-24-044694-index.htm

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