Surgical Care Affiliates is going to refinance a $444.4 million term loan facility while it pursues an incremental term loan under its credit facility.
Here's what you should know.
1. SCA wants to replace its existing loan with a new $444.4 million loan while also obtaining an incremental term loan of $150 million in aggregate principal.
2. SCA is refinancing now to take advantage of favorable market conditions.
3. Proceeds from the new term loan will repay all outstanding borrowers. Proceeds from the incremental term loan will fund ordinary course investment in ASCs. They'll also be used as general working capital.
4. SCA wants to close on the loans by the end of October.
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