Tenet Healthcare entered into an amendment to its existing letter of credit facility agreement dated March 7, 2014. Barclays served as administrative agent.

Other participants included Bank of America, SunTrust, Wells Fargo, Citibank, Goldman Sachs Lending Partners and JPMorgan Chase.

The original agreement provided for letters of credit of up to $180 million, subject to an increase to up to $200 million.

The amendment extends the scheduled maturity date of the facility to March 7, 2021, reduces the margin payable on unreimbursed drawings under the facility and reduces the commitment fee payable on the undrawn portion of the commitments under the facility.

Unreimbursed drawings under the facility will accrue interest at a base rate plus a margin equal to 0.50%. A fee on the aggregate outstanding amount of undrawn letters of credit issued under the facility will accrue at a rate of 1.50%. An unused commitment fee will be payable at an initial rate of 0.25% with a step up to 0.375%  if Tenet’s secured debt to EBITDA ratio is equal to or greater than 3.00 to 1.00.