Cano Health, Inc. (NYSE: CANO) announced today that its wholly-owned subsidiary, Cano Health, LLC (“Cano Health”), completed a repricing of its approximately $644.4 million senior secured Term Loan B maturing November 23, 2027 (the “Term Loan”). The Term Loan will bear interest using a forward looking-term rate based on the secured overnight financing rate (“Term SOFR”), replacing LIBOR as the reference rate. Based on current Term SOFR rates, the overall pricing of the Term Loan was reduced by 0.75% to the sum of (i) Term SOFR plus a credit spread adjustment (“CSA”) and (ii) 4.00%, with a Term SOFR plus CSA floor of 0.50%. Previously, the Term Loan was priced at LIBOR plus 4.50% with a LIBOR(…) Read More »

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