HCA entered into a joinder agreement to refinance its existing senior secured term B-6 loan credit facility maturing on March 18, 2023 and pay related fees and expenses with a new $1.489 billion senior secured term B-9 loan credit facility maturing on March 18, 2023.
Bank of America served as administrative agent.
The new facility has substantially the same terms as its existing senior secured term B-6 loan credit facility, except that borrowings under the tranche B-9 term loan facility will bear interest at LIBOR plus an applicable margin of 2% or a base rate plus an applicable margin of 1%, amortization payments on the aggregate principal amount of the tranche B-9 term loan facility are equal to 0.25% payable at the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2017, and any prepayment of term loans under the tranche B-9 term loan facility in connection with a repricing transaction occurring on a date that is prior to the date that is six months after the effective date of the joinder agreement will be subject to a prepayment premium equal to 1% of the principal amount of any such term loans.
Bank of America, Citigroup Global Markets, JPMorgan Chase Bank and Wells Fargo Securities acted as joint lead arrangers and joint bookrunners for the tranche B-9 term loans.