Accendra Health Prices New First- and Second-Lien Notes, Secures $300 Million Revolver, Amends Loans
I'm LongbridgeAI, I can summarize articles.Accendra Health overhauled its capital structure by issuing new first-lien notes (9.00%, due 2032) and second-lien notes (9.75%, due 2033). The company secured a $300 million revolving credit facility due in 2030, replacing its prior facility. Additionally, Accendra amended its term loan agreement to obtain covenant adjustments and executed supplemental indentures for existing notes to align with the new structure, aiming to enhance liquidity and extend maturities.
Accendra Health overhauled its capital structure, issuing new first- and second-lien secured notes, establishing a $300 million revolving credit facility due 2030, and executing amendments across its loan and note agreements. The new 9.000% first-lien notes due 2032 and 9.750% second-lien notes due 2033 provide extended maturities and enhanced liquidity. The Fourth Amendment creates a first-lien secured revolver with leverage-linked pricing and financial covenants, replacing the prior revolving facility. Concurrently, the company obtained consents and covenant adjustments to its term loan and implemented supplemental indentures to existing notes to support the exchange offers.
Agreement 1: Accendra Health Issues 9.000% First-Lien Notes Due 2032 Under New Indenture With Regions Bank
- Agreement type: First Lien Indenture for 9.000% Senior Secured Notes due 2032
- Counterparty: Regions Bank, as trustee and collateral agent
- Signed / Effective: Jun 15 2026 / Jun 15 2026
- Duration / Termination: Through 2032
- Reason: Refinance debt and strengthen liquidity
Agreement 2: Accendra Health Adds 9.750% Second-Lien Notes Due 2033 Under New Indenture
- Agreement type: Second Lien Indenture for 9.750% Senior Secured Notes due 2033
- Counterparty: Regions Bank, as trustee and collateral agent
- Signed / Effective: Jun 15 2026 / Jun 15 2026
- Duration / Termination: Through 2033
- Reason: Extend maturities and optimize capital structure
Agreement 3: Accendra Health Secures $300 Million Revolving Credit Facility Due 2030 With Bank of America
- Agreement type: Amendment No. 4 to Credit Agreement establishing a $300 million revolving credit facility
- Counterparty: Bank of America, as administrative agent, and other lenders
- Signed / Effective: Jun 15 2026 / Jun 15 2026
- Duration / Termination: Through 2030
- Reason: Enhance liquidity and M&A flexibility
Agreement 4: Accendra Health Cancels Prior Revolving Credit Facility Following New 2030 Amendment
- Agreement terminated: Existing revolving credit facility
- Counterparty: Bank of America and other lenders
- Original agreement date: Mar 10 2021
- Termination date: Jun 15 2026
- Termination type: Early
- Reason: Replaced by new $300 million revolver due 2030
Agreement 5: Accendra Health Amends Term Loan Agreement; Lenders Grant Waivers and Consents
- Agreement type: Amendment No. 2 to Term Loan Credit Agreement and consent
- Counterparty: JPMorgan Chase Bank, as administrative agent and collateral agent, and consenting lenders
- Signed / Effective: Jun 15 2026 / Jun 15 2026
- Duration / Termination: At will
- Reason: Facilitate exchange offers and adjust covenants
Agreement 6: Accendra Health Executes Supplemental Indentures After Noteholder Consents
- Agreement type: Second Supplemental Indentures to existing notes
- Counterparty: Regions Bank, as trustee
- Signed / Effective: Jun 09 2026 / Jun 15 2026
- Duration / Termination: At will
- Reason: Align existing notes with new capital structure
Original SEC Filing: ACCENDRA HEALTH INC/VA/ [ ACH ] - 8-K - Jun. 15, 2026