The healthcare giant just issued the following press release:

Kindred announced today it completed syndication and pricing of an incremental $200-million term loan, the proceeds of which will be used to repay outstanding borrowings under the company’s existing $900-million senior secured asset-based revolving credit facility (the “ABL Facility”). This borrowing will have the same terms as, and will be fungible with, the outstanding $1.18 billion of term loans under Kindred’s existing senior secured term loan credit facility (the “Term Loan Facility”). The incremental term loan will be issued at 99.05% of par.

In connection with the incremental term loan, the company also received consent from the required lenders under the Term Loan Facility and the ABL Facility to amend various provisions of those credit facilities, including to allow for a broader range of joint venture activity, increase the company’s financial flexibility and make other changes to better align the terms of these borrowings with Kindred’s strategic plan.

Kindred has retained J.P. Morgan Securities to act as sole lead arranger and sole bookrunner for the incremental term loan. JPMorgan Chase Bank is the administrative agent and collateral agent for the Term Loan Facility, under which the incremental term loan will be borrowed.

Related: investor relations, where you’ll find more press releases, plus SEC documents.

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