UHS issues $1B in senior secured notes, refinances $2.2B term loan facility

UNIVERSAL HEALTH SERVICES INC

$500M of 4.625% notes due 2029 and $500M of 5.050% notes due 2034 issued on Sep 26, 2024.
New $1.3B revolving credit facility and $1.2B term loan facility established under Tenth Amendment.
Proceeds from notes and term loan used to repay $2.199B of outstanding existing term loan plus fees.
Notes are senior secured, guaranteed by subsidiaries, rank equally with existing senior secured debt.
Credit facility margins tied to Consolidated Net Leverage Ratio; initially 0.375% for ABR loans.

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