J.P. Morgan Arranges Kindred Incremental Term Loan
Kindred Healthcare closed an incremental $200 million term loan, the net proceeds of which were used to repay outstanding borrowings under the company’s $900 million senior secured asset-based revolving credit facility. This incremental term loan has the same terms as, and is fungible with, the previously outstanding $995 million of term loans under Kindred’s existing senior secured term loan facility.
J.P. Morgan Securities LLC acted as sole lead arranger and sole bookrunner for the transaction. JPMorgan Chase Bank is the administrative agent and collateral agent for Kindred’s existing senior secured term loan facility under which the incremental term loan was borrowed.
Louisville, KY-based Kindred Healthcare is a healthcare services company.