Evolent Health borrows $200M in delayed draw term loans for general corporate purposes

Evolent Health, Inc.

On Jan 24, 2025, Borrower gave notice to draw $125M (2024-A) and $75M (2024-B) delayed draw term loans, funding Jan 31.
Proceeds for general corporate purposes including working capital and potential management of Convertible Notes due Oct 2025.
Interest rate at SOFR+5.50% or base+4.50%, with step-downs based on secured leverage ratio.
Term loans mature Dec 6, 2029, or earlier upon certain conditions including 180 days before 2029 Convertible Note maturity.
Prepayment premiums: 2% in year 1, 1% in year 2, 0% thereafter.

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