Item 1.01 Entry into a Material Definitive Agreement.
Seventh Amendment to Credit Agreement
On November 19, 2021, SP Holdco I, Inc., a Delaware corporation ("Holdings"),
and Surgery Center Holdings, Inc., a Delaware corporation (the "Borrower"), each
a wholly-owned subsidiary of Surgery Partners, Inc. (the "Company"), together
with certain wholly-owned subsidiaries of the Borrower, entered into an
amendment to the credit agreement governing their revolving credit facility (the
"Revolver"), dated as of November 19, 2021 (the "Amendment"), with Jefferies
Finance LLC, as administrative agent and collateral agent, and the other
financial institutions party thereto from time to time, which amended and
supplemented the credit agreement, dated as of August 31, 2017, and amended on
October 23, 2018, March 25, 2019, April 16, 2020, April 22, 2020, January 27,
2021 and May 3, 2021 by and among the Borrower, Holdings, certain wholly-owned
subsidiaries of the Borrower party thereto from time to time, Jefferies Finance
LLC, as administrative agent and collateral agent, and the other financial
institutions party thereto from time to time (the "Credit Agreement") to provide
for an increase in the outstanding commitments under the Revolver in an amount
equal to $40.0 million. These additional commitments will automatically become
operative upon satisfaction by the Borrower of certain conditions precedent set
forth in the Amendment.
The foregoing description of the Amendment is qualified in its entirety by the
text of the Amendment, which is filed as exhibit 10.1 to this Current Report on
Form 8-K and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth, or incorporated by reference, in Item 1.01 above with
respect to the Amendment is hereby incorporated by reference into this Item
2.03, insofar as it relates to the information required to be disclosed under
this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
10.1 Seventh Amendment to the Credit Agreement, dated as of November 19,
2021, by and among SP Holdco I, Inc., Surgery Center Holdings, Inc., the
other Guarantors party thereto, Jefferies Finance LLC and the other
lenders party thereto.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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