Option Care Health Announces Issuance of $250 Million in Additional First Lien Term Loan and Concurrent Extinguishment of All Outstanding Second Lien Notes
January 21, 2021 at 09:05 pm
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Option Care Health Inc. (“Option Care Health” or the Company”) announced that it has successfully issued $250 million in additional first lien term loans, the proceeds from which were used to extinguish the entire $246 million remaining outstanding balance of the Company’s second lien notes. The terms of the additional first lien term loans, including the maturity date of August 2026, are consistent with the Company’s existing first lien credit agreement. The Company’s existing first lien term loans currently bear interest at Libor plus 4.25%; however, subsequent to the effective date of the incurrence of the incremental term loans, all first lien term loans will bear interest at Libor plus 3.75%. The interest rate on the extinguished second lien notes was Libor plus 8.75%. As a result of the debt transaction described above, the Company has further simplified its capital structure and reduced its cash interest burden. The additional first lien term loan issuance and related retirement of second lien notes will be reflected in the Company’s first quarter 2021 financial results.
Option Care Health, Inc. is an independent provider of home and alternate site infusion services. The Companyâs infusion services include the clinical management of infusion therapy, nursing support and care coordination. It provides a therapy portfolio through its network of 93 full-service pharmacies and 84 stand-alone ambulatory infusion suites. It administers a wide variety of therapies and services, including anti-infectives infusion, heart failure, chronic inflammatory disorders, immunoglobulin infusion, bleeding disorders infusion, nutrition support infusion, neurological disorders, and others. The Companyâs home infusion services include medication and supplies for administration and use at home or within one of its ambulatory infusion suites, consultation and education regarding the patientâs condition and the prescribed medication nursing support, clinical monitoring and assistance in monitoring potential side effects, and assistance in obtaining reimbursement.
Option Care Health Announces Issuance of $250 Million in Additional First Lien Term Loan and Concurrent Extinguishment of All Outstanding Second Lien Notes
OPTION CARE HEALTH, INC. 
