InfuSystem secures $75M
By HME News Staff
Updated 8:59 AM CST, Mon February 15, 2021
ROCHESTER HILLS, Mich. – InfuSystem Holdings has secured a $75 million revolving credit facility, working with JPMorgan Chase Bank, N.A., acting as the lead arranger with a syndicate of financial banking institutions that include Wells Fargo Back, PNC Financial Services Group and Comerica Bank. The company now says it is better positioned to capitalize on strategic opportunities to grow and scale up two operation platforms: integrated therapy services and DME services. “We are pleased to be announcing our new credit facility which is designed to give us additional liquidity and enhanced financial flexibility and align with our growth-oriented capital allocation strategies,” said Richard Diloria, CEO. The new revolving credit facility replaced the company’s existing $49 million credit facility, which was comprised of a revolver and three team loans. Terms of the new senior secured revolving credit facility include a five-year term, no amortization and an adjusted LIBOR rate, plus an interest rate range of 1.9% to 3% based on the company’s total leverage ratio.
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