Ardent Health Completes Term Loan Repricing
Ardent Health Partners, Inc. (ARDT)
Company Research
Source: Business Wire
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Ardent Health (NYSE: ARDT) today announced it has entered into an amendment to its term loan credit agreement with its lenders to reprice its term loans. The repricing reduces the applicable interest rate by 50 basis points from Term Secured Overnight Financing Rate (SOFR) plus 3.25% to Term SOFR plus 2.75%, as well as eliminates the credit spread adjustment. There are no changes to the maturity of the loans following the repricing and all other terms are substantially unchanged. The amended credit agreement is expected to reduce Ardent’s borrowing cost and generate interest expense savings of approximately $5 million annually.“This opportunistic term loan repricing enhances our free cash flow conversion and provides for incremental flexibility as we execute on our capital allocation priorities,” said Ardent Chief Financial Officer Alfred Lumsdaine. “Optimizing our cost of capital further facilitates our goal of efficiently investing in high-grow
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News
- Nine Ardent Health Facilities Earn “A” Hospital Safety Grade From The Leapfrog GroupBusiness Wire
- Ardent Health Partners, LLC (NYSE: ARDT) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $23.00 price target on the stock.MarketBeat
- Ardent Health Partners, LLC (NYSE: ARDT) had its price target raised by analysts at Leerink Partners from $23.00 to $25.00. They now have an "outperform" rating on the stock.MarketBeat
- Ardent Health Reports Third Quarter 2024 ResultsBusiness Wire
- Ardent Health Partners, LLC (NYSE: ARDT) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating. They now have a $19.00 price target on the stock, down previously from $22.00.MarketBeat
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- 11/6/24 - Miss
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