JPMorgan Chase Bank acted as lead arranger alongside a syndicate of financial banking institutions, including Wells Fargo Bank, PNC Financial Services Group and Comerica Bank, on a $75 million revolving credit facility for InfuSystem, a national healthcare service provider.

The revolving credit facility replaced the company’s existing $49 million credit facility, which was comprised of a revolver and three term loans. Terms of the new senior secured revolving credit facility include a five-year term, no amortization and an adjusted LIBOR rate plus an interest rate range of 1.9% to 3%, which is based on the company’s total leverage ratio as defined in the credit agreement.

“We are pleased to be announcing our new credit facility, which is designed to give us additional liquidity and enhanced financial flexibility and align with our growth-oriented capital allocation strategies. We are now better positioned to capitalize on strategic opportunities to grow and scale up our two operating platforms Integrated Therapy Services (ITS) and Durable Medical Equipment Services (DME) with new potential therapies and acquisitions.  We completed the full year on Dec. 31, 2020, with approximately $20 million of liquidity, and with the closing of a new credit facility, we now have over $45 million of liquidity. We appreciate the confidence demonstrated by these high-quality banking partners, as the revolver will allow us the flexibility to pay down debt or invest in growth based upon available value-creation opportunities,” Richard DiIorio, CEO of InfuSystem, said.