debt
confidence high
sentiment positive
materiality 0.60
RadNet amends credit facility, reducing interest rates by 0.25% on $872.8M term loans
RadNet, Inc.
- Interest rate on term loans reduced to Term SOFR + 2.25% or base rate + 1.25%.
- Revolving credit facility rate reduced by 0.25% subject to pricing grid based on leverage.
- Estimated annual cash interest expense reduction of ~$2.2 million.
- Call protection provided to lenders for six months following the amendment.
- Company reports ~$750M cash and first lien net leverage ratio under 1.0x.