Addus HomeCare Corporation and Addus HealthCare, Inc. Enter into Second Amendment to Amended and Restated Credit Agreement
August 04, 2021 at 04:07 pm EDT
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On July 30, 2021, Addus HomeCare Corporation entered into a second amendment to amended and restated credit agreement, by and among Addus HealthCare, Inc., as the borrower, the company, the other credit parties party thereto, the lenders party thereto, and Capital One, National Association, as administrative agent for the lenders and as a lender (the agent), which amended the company’s existing amended and restated credit agreement, dated as of October 31, 2018, with certain lenders party thereto and the agent, as amended by that certain first amendment to amended and restated credit agreement dated as of September 12, 2019. Capitalized terms used herein but not otherwise defined shall have the meanings accorded to them in the amended and restated credit agreement, as amended. The amendment, among other things, reallocated and refinanced the company’s outstanding initial term loans as revolving loans (such that the company has no outstanding initial term loans and no further initial term loans may be borrowed) and increased the company’s revolving credit facility to an aggregate amount of $600,000,000. Moreover, the amendment increased the company’s incremental loan facility to an aggregate amount of $125,000,000, which incremental loan facility may be for term loans or an increase to the revolving loan commitments. The maturity of the revolving credit facility was also extended from May 8, 2023 to July 30, 2026.
Addus HomeCare Corporation is engaged in providing home care services. Its segments include Personal Care, Hospice, and Home Health. The Personal Care segment provides non-medical assistance with activities of daily living, to persons who are at increased risk of hospitalization or institutionalization, such as the elderly, chronically ill or disabled. The services it provides include assistance with bathing, grooming, feeding and dressing, medication reminders and others. The Hospice segment provides physical, emotional and spiritual care for people who are terminally ill and related services for their families. The Hospice services it provides include palliative nursing care, social work, spiritual counseling, homemaker services and bereavement counseling. Its Home Health segment provides services that are medical in nature to individuals who may require assistance during an illness or after hospitalization and includes skilled nursing and physical, occupational and speech therapy.