Rotech refinances with $315 million credit agreement in three parts

By Wendy Van Sickle

Columbus, Ohio, Oct. 30 – Rotech Healthcare Inc. entered into a new $315 million credit agreement comprised of a $250 million five-year term loan, a $15 million revolving credit facility and a $50 million acquisition credit facility, according to a Wednesday press release.

The company entered into the agreement on April 6, 2019 with a group of lenders including SunTrust Bank as administrative agent and SunTrust Robinson Humphrey, Inc., Regions Bank and Fifth Third Bank as joint lead arrangers and bookrunners and Citizens Bank as documentation agent.

Proceeds were used to pay a $100 million special dividend to the company’s parent as well as to support the company’s strategy to grow through strategic acquisitions.

Rotech said it will have more than $55 million in cash and undrawn revolver at close.

Rotech is an Orlando, Fla.-based provider of home medical equipment and related products and services.

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