Option Care gets $400 million revolver under existing credit agreement

By Wendy Van Sickle

Columbus, Ohio, Dec. 11 – Option Care Health, Inc. amended its amended and restated first-lien credit agreement dated Oct. 27, 2021 with Bank of America, NA as administrative agent on Dec. 7, according to an 8-K filing with the Securities and Exchange Commission.

BofA Securities is the lead arranger, bookrunner, syndication agent and documentation agent.

The amendment provides for $400 million of revolving credit commitments that will bear interest at term SOFR plus a margin that is initially 175 basis points and that may range from 125 bps to 225 bps, depending on the company’s total net leverage ratio.

The mature date is the earlier of Dec. 7, 2028 and the date that is 91 days prior to the stated maturity date applicable to any term B loans under the credit agreement.

Concurrent with the closing of the new revolver, the company repaid and terminated its ABL credit agreement dated Aug. 6, 2019 with Bank of America as agent.

Option Care is a provider of home and alternate treatment site infusion therapy services.

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