Citibank Agents New $650MM Facility for Allscripts
Allscripts Healthcare Solutions and Allscripts Healthcare said it entered into a new credit agreement with Citibank as syndication agent; KeyBank, SunTrust Bank, Deutsche Bank Securities and The Bank of Tokyo-Mitsubishi UFJ as co-documentation agents; JPMorgan Chase as administrative agent; and a group of lenders.
The new credit agreement provides for a $225 million senior secured term loan and a $425 million senior secured revolving facility, each with a five-year term.
J.P. Morgan Securities and Citigroup Global Markets served as lead arrangers and bookrunners in connection with the credit agreement.
The term loan is repayable in quarterly installments commencing on September 30, 2013. A total of up to $50 million of the revolving facility is available for the issuance of letters of credit, up to $10 million of the revolving facility is available for swingline loans, and up to $100 million of the revolver could be borrowed under certain foreign currencies.
On June 28, 2013, the company borrowed $60 million under the revolving facility in connection with its entry into the new credit agreement.
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