A banking syndicate including Barclays, Banco Santander, Capital One and JPMorgan Chase arranged a $875 million term loan and $282 million revolving credit facility as a part of a refinancing for RadNet, a provider of outpatient diagnostic imaging services.
Barclays Bank, Capital One, J.P. Morgan Securities, RBC Capital Markets, TD Securities and Truist Securities acted as joint bookrunners and joint lead arrangers for the refinancing of RadNet’s term loan and revolving credit facility.
RadNet increased the amount of revolving commitments under its senior secured first lien credit agreement by $57.5 million. Barclays Bank, Truist Bank, JPMorgan Chase Bank, Capital One and Royal Bank of Canada increased their commitments pursuant to this amendment.
RadNet amended its senior secured first lien credit agreement to raise an additional $170 million of senior secured first lien term loans, the proceeds of which were used to repay and retire RadNet’s second lien term loan. Barclays served as administrative agent.
RadNet closed $485 million in senior secured first lien term loans and a $117.5 million senior secured revolving credit facility. Barclays, Capital One, Suntrust Robinson Humphrey, Credit Suisse Securities (USA) and RBC Capital Markets acted as joint bookrunners and joint lead arrangers in the transaction.
Radnet proposed to refinance its $444.8 million term loans and $101.25 million revolver with a proposed $485 million term loan and a $100 million revolver. Barclays served as administrative agent on the existing facilities.