On December 11, 2024, BrightSpring Health Services, Inc. announced the successful refinancing of its entire $2.55 billion Term Loan B facility, which was originally due in February 2031. The refinancing was completed through its subsidiary, Phoenix Guarantor Inc., without incurring any additional indebtedness.
The repriced facility now stands at SOFR +250 basis points, a reduction of 75 basis points from the prior issuance rate of SOFR +325 basis points. This favorable repricing is estimated to generate approximately $19.1 million in annual cash interest savings for the company.
This financial maneuver strengthens BrightSpring's balance sheet by reducing its cost of debt. The transaction was led by Morgan Stanley and KKR Capital Markets as lead bookrunners, reflecting confidence in the company's financial standing.
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