BRIGHT HORIZONS FAMILY SOLUTIONS INC. (BFAM): debt financing — Bright Horizons refinances $362.5M term loans with $900M revolving facility

BRIGHT HORIZONS FAMILY SOLUTIONS INC.

New $900M revolving loan facility; $362.5M drawn plus cash repaid all Term A Loans.
Interest rate: Base Rate +0.25%-0.75% or Term SOFR +1.25%-1.75%.
Maturity is August 24, 2028, based on Material Indebtedness maturity.
Covenant: max consolidated first lien net leverage ratio of 4.25:1.00.
Amendment executed April 17, 2025; proceeds also paid related fees and expenses.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

BRIGHT HORIZONS FAMILY SOLUTIONS INC. incurred revolving credit of $900 million revolving loan facility with JPMorgan Chase Bank, N.A., as Administrative Agent at Base Rate plus a margin ranging from 0.25% to 0.75% or Term SOFR plus a margin r maturing August 24, 2028.

Instrument: revolving credit
Principal: $900 million revolving loan facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Rate: Base Rate plus a margin ranging from 0.25% to 0.75% or Term SOFR plus a margin r
Maturity: August 24, 2028
Event: incurrence

Exact text from the filing

The Amended Credit Agreement provides for, among other things, a $900 million revolving loan facility (the “ New Revolving Facility ”). On the Closing Date, the Borrower used the proceeds of $362.5 million of revolving loans borrowed under the New Revolving Facility, together with cash on hand, to repay all of the Borrower’s outstanding Term A Loans under the Existing Credit Agreement (including accrued and unpaid interest) and to pay all related fees and expenses.

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Source: SEC EDGAR

accession 0001193125-25-086264

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