LOUISVILLE, Ky.--(BUSINESS WIRE)--Jun. 14, 2016--
Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND) today
announced that it has closed its previously announced incremental $200
million term loan, the net proceeds of which were used to repay
outstanding borrowings under the Company’s $900 million senior secured
asset-based revolving credit facility (the “ABL Facility”). This
incremental term loan has the same terms as, and is fungible with, the
previously outstanding $1.18 billion of term loans under Kindred’s
existing senior secured term loan credit facility (the “Term Loan
In addition, Kindred announced that it has closed the previously
announced amendments to the Term Loan Facility and the ABL Facility. The
Term Loan Facility and the ABL Facility were each amended to allow for a
broader range of joint venture activity, increase the Company’s
financial flexibility and make other changes to better align the terms
of these facilities with Kindred’s strategic plan.
J.P. Morgan Securities LLC acted as sole lead arranger and sole
bookrunner for the transaction. JPMorgan Chase Bank, N.A. is the
administrative agent and collateral agent for the ABL Facility and the
Term Loan Facility, under which the incremental term loans were borrowed.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-90 private employer in the United
States, is a FORTUNE 500 healthcare services company based in
Louisville, Kentucky with annual revenues of approximately $7.2 billion(1).
At March 31, 2016, Kindred through its subsidiaries had approximately
102,000 employees providing healthcare services in 2,700 locations in 46
states, including 95 transitional care hospitals, 19 inpatient
rehabilitation hospitals, 92 nursing centers, 20 sub-acute units, 618
Kindred at Home home health, hospice and non-medical home care sites of
service, 104 inpatient rehabilitation units (hospital-based) and a
contract rehabilitation services business, RehabCare, which served 1,752
non-affiliated sites of service. Ranked as one of Fortune magazine’s
Most Admired Healthcare Companies for seven years, Kindred’s mission is
to promote healing, provide hope, preserve dignity and produce value for
each patient, resident, family member, customer, employee and
shareholder we serve. For more information, go to www.kindredhealthcare.com.
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Revenues based upon Kindred consolidated revenues for the twelve
months ended March 31, 2016.
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Source: Kindred Healthcare, Inc.
Kindred Healthcare, Inc.
Todd Flowers, 502-596-6569