U.S. Physical Therapy announces $450M credit facility

U.S. Physical Therapy (USPH) announced the closing of a $450M, five-year credit facility that includes a $175M term loan and a $275M revolver with a maturity date of April 14, 2031. Based on strong lender support, the credit facility was upsized from its initial $400M launch amount. This is an increase and extension of the Company’s $325M credit facility which was due to expire on June 17, 2027. The credit facility syndicate consists of Bank of America Securities Inc. as Joint Lead Arranger and Sole Bookrunner with Bank of America, N.A. as Administrative Agent, and Regions Capital Markets, a division of Regions Bank, as Joint Lead Arranger and Syndication Agent. Other lenders include US Bank, JP Morgan and Citizens Bank as co-Documentation Agents and Bank United as participant.