RadNet closed $485 million in senior secured first lien term loans and a $117.5 million senior secured revolving credit facility. Barclays, Capital One, Suntrust Robinson Humphrey, Credit Suisse Securities (USA) and RBC Capital Markets acted as joint bookrunners and joint lead arrangers in the transaction.

The first lien term loans have a maturity date of July 1, 2023, and the revolving credit facility has a maturity date of July 1, 2021, provided that both maturity dates shall be shortened to September 25, 2020 in the event that the second lien term loans under RadNet’s second lien credit facility have not been repaid, refinanced or extended prior to September 25, 2020.

The first lien term loans and the revolving credit facility are both floating rate facilities, and RadNet may request that the interest rate thereon be based upon LIBOR (subject to a 1% LIBOR floor for the term loans) plus an applicable margin of 3.75% per annum.

“We are very pleased to have been able to refinance our senior secured first lien credit facilities at this time,” said Dr. Howard Berger, president and CEO of RadNet. “By completing this transaction, we were able to successfully extend the maturities of the senior portion of our capital structure and improve our financial flexibility.”
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