trending Market Intelligence /marketintelligence/en/news-insights/trending/2QQ4QeAPVI78MD0U4bgpew2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

DaVita receives $5.5B senior secured credit facility


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021


Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective


Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective

DaVita receives $5.5B senior secured credit facility

DaVita Inc. said it entered a $5.5 billion senior secured credit agreement with several banks and other financial institutions.

The agreement includes a five-year secured revolving loan facility worth $1 billion, $1.75 billion of a five-year secured term loan A facility with a delayed draw feature and a seven-year secured term loan B facility totaling $2.75 billion.

Denver-based DaVita — which provides kidney dialysis services for patients with chronic kidney failure or end-stage renal disease — used a portion of the proceeds to repay all outstanding borrowings under a previous credit agreement.

The signing of the new credit agreement satisfies the financing condition of its modified Dutch auction tender offer for up to $1.2 billion DaVita common shares priced at no less than $53.50 per share and no greater than $61.50 per share in cash. The tender offer will expire at midnight New York time Aug. 16, unless extended by DaVita or the offer is terminated by the company.

Wells Fargo Bank N.A. acted as administrative and collateral agent for the credit agreement.