RadNet closes $875M term loan and $282M revolver refinancing, extends maturities

RadNet, Inc.

New $875M senior secured term loan matures April 2031; revolver of $282M matures April 2029.
Term loan rate: SOFR+2.50% or prime+1.50%; revolver initial rate: SOFR+3.00% or prime+2.00%.
Proceeds refinanced $679M prior term loan (as of Dec 31, 2023) plus accrued interest and fees.
Adds ~$168M cash to balance sheet after paying ~$12.6M accrued interest.
Quarterly term loan principal payments increase to ~$2.2M from ~$1.8M under prior facility.

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