U.S. Physical Therapy enters $170.6 million forward-starting interest rate swap with Bank of America
Bitget2026/09/28 21:09- U.S. Physical Therapy entered a 45-month forward-starting interest rate swap with Bank of America on Sept. 22, 2026.
- Initial notional amount set at $170.6 million, reflecting projected term-loan amortization under its Fourth Amended and Restated Credit Agreement.
- Swap fixes the variable interest component on term debt effective June 30, 2027, when the existing swap expires.
- Company will pay a fixed 4.578% rate, receiving one-month SOFR-based payments on the same notional amount.
- Swap amortizes with the term-loan schedule, terminating April 14, 2031; governed by the parties’ ISDA Master Agreement.
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