American Renal Holdings entered into a credit agreement with SunTrust Bank as administrative agent to refinance its existing first lien credit agreement, dated February 20, 2013, with Bank of America as administrative agent.

The new credit agreement provides for a $100 million senior secured revolving credit facility and a $440 million senior secured term B loan facility. In addition, the agreement includes a feature under which maximum borrowings may be increased by an amount in the aggregate equal to the sum of the greater of $125 million and 100% of consolidated EBITDA plus an amount such that certain leverage ratios will not be exceeded after pro forma effect to the increase.

According to a related 8-K filing, SunTrust also served as swingline lender and L/C Issuer. SunTrust Robinson Humphrey, Merrill Lynch, Pierce, Fenner & Smith, Wells Fargo Securities, Barclays Bank and JPMorgan Chase Bank served as joint lead arrangers. Merrill Lynch and Wells Fargo served as co-syndication agents, and Barclays and JPMorgan served as co-documentation agents,

The new revolving facility under the agreement is scheduled to mature in June 2022 and the new term loan B facility is scheduled to mature in June 2024.

Parent company American Renal Associates is one of the largest dialysis service providers in the U.S.