U.S. Physical Therapy Secures $450M Five-Year Credit Facility with Extended Maturity
U.S. Physical Therapy closed a $450 million five-year credit facility, comprising a $175 million term loan and a $275 million revolver maturing April 14, 2031. The facility, upsized from $400 million and replacing a $325 million credit line due June 17, 2027, features improved pricing and extended maturity.
1. Credit Facility Overview
U.S. Physical Therapy closed a $450 million five-year credit facility comprising a $175 million term loan and a $275 million revolving line maturing on April 14, 2031.
2. Facility Upsize and Replacement
The facility was upsized from its initial $400 million launch and replaces a $325 million credit line due June 17, 2027, reflecting strong lender demand and confidence in the company’s credit profile.
3. Syndicate Composition
Bank of America Securities and Regions Capital Markets served as joint lead arrangers, with Bank of America, N.A. as administrative agent; other participants include US Bank, JP Morgan, Citizens Bank and Bank United.
4. Strategic Benefits
The improved pricing, increased borrowing capacity and extended maturity will fund further clinic expansion, bolster industrial injury prevention services and support ongoing shareholder returns.