, Inc. Announced Refinancing of Term Loan B
Summary
LOUISVILLE, Ky., Dec. 11, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services, Inc. (BrightSpring or the Company) (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, completed the successful refinancing of all of its $2.55 billion Term Loan B facility due February 2031, through its subsidiary Phoenix Guarantor Inc. BrightSpring incurred no additional indebtedness as a result of the transaction.The Companys refinanced facility was repriced at SOFR +250 basis points, vs. the prior issuance at SOFR +325 basis points. The repricing reduced the applicable interest rate on the outstanding term loan by 75 basis points, representing an estimated cash interest savings of approximately $19.1 million annually.Morgan Stanley and KKR Capital Markets served as the lead bookrunners for the loan.BrightSpring Health Services provides complementary and integrated home- and community-based pharmacy and health solutions for complex populations in need of specialized and/or chronic care. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond BrightSprings control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in BrightSprings filings with the Securities and Exchange Commission (the SEC) under caption Risk Factors, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent other filings BrightSpring makes with the SEC from time to time. BrightSpring undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.