Addus reallocates term loans as revolving loans, extends maturity

By Marisa Wong

Los Angeles, Aug. 4 – Addus HomeCare Corp. entered into a second amendment on July 30 to its amended and restated credit agreement dated Oct. 31, 2018 with Addus HealthCare, Inc. as the borrower and Capital One, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, among other things, reallocated and refinanced the company’s outstanding initial term loans as revolving loans – such that the company has no outstanding initial term loans and no further initial term loans may be borrowed – and increased the company’s revolving credit facility to an aggregate amount of $600 million.

In addition, the amendment increased the company’s incremental loan facility to an aggregate amount of $125 million, which may be for term loans or an increase to the revolving loan commitments.

The maturity of the revolver was also extended to July 30, 2026 from May 8, 2023.

The home health care company is based in Frisco, Tex.

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