Quipt closes on financing
By HME News Staff
Updated 10:42 AM CDT, Mon September 19, 2022
CINCINNATI – Quipt Home Medical Corp. has announced the closing of $110,000,000 in senior secured credit facilities with CIT Bank, N.A., a division of First-Citizens Bank & Trust Company. The senior secured credit facilities are in the aggregate amount of $110,000,000 (comprised of a term loan facility in an aggregate principal amount of $5,000,000, a delayed draw term loan facility in an aggregate principal amount of $85,000,000 and a revolving credit facility in an aggregate principal amount of $20,000,000). The company originally announced this transaction on Aug. 15, 2022 when it executed a binding commitment letter with CIT for up to $80,000,000 in senior credit facilities. However, as a result of strong demand from CIT and its syndicate of lenders the senior credit facilities were increased. “We continue to source opportunities across the United States in attractive markets and believe the ability to access meaningful additional funding leaves us well positioned to capitalize on opportunities as they present themselves,” said Greg Crawford, chairman and CEO. “As always, we will continue to remain very disciplined in our capital allocation strategy, maintaining a very healthy balance sheet with a conservative leverage structure.”
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