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Envision Healthcare Announces Entry into New Senior Secured Financing Facilities

NASHVILLE, Tenn.–(Organization WIRE)–Envision Health care, a main countrywide healthcare team, nowadays introduced that specified of its subsidiaries entered into new senior secured initially and second lien funding services. The new first lien credit facility in the combination volume of $1.3 billion consists of an preliminary $1.1 billion funding and a $200 million delayed draw phrase loan. Independently, the new second lien facility consists of financial loans in the combination quantity of approximately $1.3 billion.

The new initially lien credit score facility supplies Visualize with $1.1 billion in speedy incremental funds, with up to $200 million in supplemental money, to spend in the organization and pursue development possibilities. This involves strengthening providers for the hundreds of thousands of sufferers who depend on Visualize Health care, continuing to deliver resources for clinicians and investing in the teams who assistance both.

The new to start with lien credit facility also delivers a degree of steadiness as a result of the uncertainty dealing with the health care field.

Visualize Healthcare employed proceeds from the new 2nd lien services to consummate negotiated repurchases of approximately $1.5 billion in principal amount of its remarkable to start with lien term loan B owing 2025 at a blended selling price equal to 66 p.c of the relevant principal amount of money, $326 million in principal amount of money of its superb incremental time period loans due 2025 at a value equivalent to 90 per cent of the relevant principal sum, and $87 million in principal amount of money of its senior unsecured notes at a price tag equivalent to 46 percent of the relevant principal volume. The new 1st and next lien debt instruments will allow Envision Health care to possibly total even more benefit-accretive open up sector purchases of its existing personal debt in the upcoming, therefore strengthening its funds structure.

“We consider these funding transactions will deliver our business with financial versatility and expansion possibilities,” mentioned Jim Rechtin, Chief Government Officer of Visualize Health care. “Our priority is to go on to aim on furnishing high-high-quality care to patients, investing in our teams and caring for communities.”

Envision Healthcare is a top countrywide health-related group serving hospitals and health care techniques in specialties such as anesthesiology, emergency medicine, healthcare facility medicine, radiology, surgery and women’s and children’s care. It also operates much more than 250 ambulatory surgery facilities across 34 states by way of its AMSURG enterprise. The 25,000 clinicians with Envision deliver treatment to much more than 30 million sufferers each individual 12 months.

The organization’s expense banker is PJT Partners LP, its fiscal advisor is Alvarez & Marsal LLC and its lawful advisor is Kirkland & Ellis LLP.