Daily News: April 14, 2014

Update: JPMorgan Chase Agents Kindred Healthcare Refinancing

The ABF Journal confirmed through a company spokesperson, that JPMorgan Chase acted as administrative agent and collateral agent on Kindred Healthcare’s amendment and restatement of its existing secured term loan facility and senior secured asset-based revolving credit facility.

Kindred said it amended and upsized its $1 billion term loan facility due 2021 and amended its $750 million ABL facility due 2019.

The company noted in a transaction summary outlined in a related 8-K filing (3/12/14), that the company was “looking to take advantage of favorable conditions in the leveraged finance market to refinance its existing debt. The refinancing will improve the maturity profile, reduce interest expense and provide operational flexibility of the company.”

To view a summary of the transactions and terms, click here.

Previously on abfjournal.com:

Kindred Completes Refinancing, Amends ABL Facility, April 11, 2014