Option Care extends maturity, lowers pricing of $175M asset-based revolver

Option Care Health Inc. disclosed that on Oct. 27 the company amended its $175 million asset-based revolver to extend the maturity of the facility to October 2026, from August 2024, and to reduce the availability-based pricing grid to L+125-175, from L+225-275.

The credit agreement also includes language for the secured overnight financing rate to be used as a replacement benchmark rate.

Bank of America is administrative agent.

As reported, the company recently completed a $600 million term loan B that is being used along with a $500 million issue of 4.375% senior unsecured notes due October 2029 to refinance the company's existing term loan B due August 2026.

Option Care provides home and alternate-treatment-site infusion services.