Team Health Holdings announced that it has completed the amendment and restatement of its senior credit facility.

J.P. Morgan Securities, Bank of America Merrill Lynch, Fifth Third Bank, Citizens Commercial Banking and Regions Capital Markets served as joint lead arrangers and joint bookrunners on the refinancing.

“We are very pleased to have completed this amendment and restatement to our senior credit facility and appreciate the outstanding support provided to TeamHealth by our bank group. We have extended our debt maturities, significantly increased our borrowing capacity with the expansion of our revolving and term loan A facilities, and reduced our average borrowing rate due to the repayment in full of the term loan B Facilities. This enhanced credit facility will provide our company with additional financial capacity and a solid capital structure as we pursue additional opportunities for growth,” said Mike Snow, TeamHealth president and chief executive officer.

The amendment and restatement agreement, among other things, (1) replaced and upsized the existing $275 million tranche A term facility, (2) replaced and upsized the existing $250 million revolving credit facility, (3) extended the maturities of the tranche A term facility and the revolving credit facility from November 1, 2017 to October 2, 2019 and (4) terminated the existing $100 million incremental revolving credit facility. The company used proceeds from borrowings under the tranche A term facility and the revolving credit facility to repay in full the existing $250 million tranche B term facility, and pay customary fees and expenses associated with the amendment and restatement agreement, with remaining proceeds retained for other future general corporate purposes. After giving effect to the amendment and restatement agreement, the tranche A term facility was increased to $600 million and the revolving credit facility was increased to $650 million.

Knoxville, TN-based TeamHealth is a provider of outsourced physician staffing solutions for hospitals.