Tenet Healthcare, a healthcare services company based in Dallas, entered into an amendment to its existing senior secured revolving credit facility. The amendment went into effect on March 16 and amends certain provisions under the credit agreement to, among other things, provide for aggregate revolving commitments not to exceed $1.5 billion, subject to borrowing availability; extend the maturity date to March 16, 2027; and replace LIBOR with term SOFR and daily simple SOFR as the reference interest rate.

According to an 8K filed with the SEC, Citicorp is the administrative agent for the facility, which is guaranteed by certain of Tenet’s subsidiaries and secured by a first-priority lien on the accounts receivable and inventory owned by Tenet and its subsidiary guarantors.