HMS Holdings Corp. amended a revolving credit agreement, providing a senior secured revolving facility in an aggregate principal amount of $500 million.
The company entered into the amendment with Citibank NA as administrative agent and other lenders. The $500 million senior secured revolving facility includes a $50 million sublimit for the issuance of letters of credit and a $25 million sublimit for swingline loans.
The company used the proceeds of its borrowings under the facility to repay its existing loans under the existing credit agreement. Following the effective date of the amendment, the proceeds of the facility may be used to provide working capital from time to time for the company, and for other general corporate purposes.
Citigroup Global Markets Inc., Merrill Lynch Pierce Fenner & Smith Inc., JPMorgan Chase Bank NA and Wells Fargo Bank NA acted as joint lead arrangers and joint book runners for the amendment.