WELL Health closes up to C$300 million refinancing credit facility

By Marisa Wong

Los Angeles, Jan. 31 – WELL Health Technologies Corp. announced it closed the refinancing of a new credit facility for its subsidiary, WELL Health USA, led by JPMorgan Chase Bank, NA.

The C$300 million newly refinanced credit facility consists of a primary C$175 million facility, with an additional C$125 million accordion for future growth and flexibility, according to a press release.

The facility matures in three years and bears interest at SOFR plus a spread that is initially 175 basis points and increases depending on the leverage ratio.

The new facility is provided by a syndicate led by JPMorgan and includes CIBC, HSBC Canada, Bank of Nova Scotia and two new syndicate members: Bank of Montreal and the Canadian government-owned Export Development Corp.

The company noted that there were no material changes from the terms of the previous credit facility, exemplifying continued strong financial performance.

The digital healthcare company is based in Vancouver, B.C.

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