RadNet, Inc. announced a proposed refinancing transaction for its existing term loan and revolving credit facility. At December 31, 2023, the debt facilities that RadNet intends to refinance included a $679 million term loan balance due April of 2028 and an undrawn $195 million revolving credit facility maturing April of 2026. RadNet is seeking to replace these facilities with a proposed $840 million term loan with a maturity of seven years and $250 million revolving credit facility with a five year term.

In addition to repaying the existing term loan, RadNet expects to use the proceeds from any refinancing transaction to pay fees and expenses of the transaction and to fund an additional approximately $148 million of cash to its balance sheet for growth opportunities and general corporate purposes. The terms and completion of any proposed refinancing transaction would be subject to negotiations with lenders, as well as market and other conditions. Accordingly, RadNet cannot provide any assurance that it will complete a refinancing transaction on terms that are favorable to RadNet or its investors.