AGILITI, INC. \DE: debt financing — Agiliti increases revolver to $300M, extends maturity to 2028

AGILITI, INC. \DE

Refinanced existing $250M revolver with new $300M revolver due April 6, 2028.
Interest margin set at Term SOFR +2.75%, steps down to +2.50% or +2.25% based on leverage.
Replaced LIBOR with Term SOFR (USD), Adjusted EURIBOR (EUR), and Daily Simple RFR (GBP).
Added $50M incremental revolving commitment as part of the amendment.
No other material changes to covenants, events of default, or representations.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AGILITI, INC. \DE amended revolving credit of $300,000,000 revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at Adjusted EURIBOR, Daily Simple RFR or Term SOFR plus 2.75% maturing April 6, 2028.

Instrument: revolving credit
Principal: $300,000,000 revolving credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: Adjusted EURIBOR, Daily Simple RFR or Term SOFR plus 2.75%
Maturity: April 6, 2028
Event: amendment

Exact text from the filing

among other things (i) provides for a refinancing of the existing revolving credit facility through a replacement of the existing $250,000,000 revolving credit facility with a $300,000,000 revolving credit facility (the “Revolving Credit Facility”), which shall be on the same terms as the existing revolving credit facility (with the exception of the maturity date

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AGILITI, INC. \DE amended Amendment No. 6 with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders from time to time party thereto valued at $300,000,000 revolving credit facility (effective 2023-04-06).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders from time to time party thereto
Value: $300,000,000 revolving credit facility
Effective: 2023-04-06

Exact text from the filing

On April 6, 2023, Agiliti Health, Inc., an indirect subsidiary of Agiliti, Inc. , entered into Amendment No. 6 (the “Amendment”) to the credit agreement, dated as of January 4, 2019 (as further amended, supplemented, amended and restated or otherwise modified from time to time, the “First Lien Credit Agreement”), by and among Agiliti Health, Inc., as borrower (the “Borrower”), Agiliti Holdco, Inc., as holdings, the subsidiaries of the Borrower from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders from time to time party thereto.

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Source: SEC EDGAR

accession 0001749704-23-000021

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