debt
confidence high
sentiment positive
materiality 0.70
RadNet proposes $840M term loan and $250M revolver to refinance existing debt, add $148M for growth
RadNet, Inc.
- RadNet plans $840M term loan (7-yr) and $250M revolver (5-yr), replacing $679M due 2028 and $195M due 2026.
- Proceeds to repay existing term loan, pay fees, and add ~$148M cash for growth and general corporate purposes.
- CFO Mark Stolper cites strong operating results, successful public offering, and credit rating upgrade as enabling the refinancing.
- Refinancing expected to close this month (April 2024), subject to market conditions and lender negotiations.