Astrana Health signs $1.3 billion credit agreement with Truist Bank and lenders
Astrana Health entered an amended and restated credit agreement on February 26, 2025, with Truist Bank as agent and a group of lenders. The facilities total $1.295 billion, including a $745 million delayed draw term loan to finance an acquisition under a November 8, 2024 purchase agreement with Prospect Medical Holdings. The new debt terms replace the company's 2021 credit agreement and carry leverage and interest coverage covenants, plus a security interest in the company's assets.
Key points
- Revolving credit facility of $300 million, term loan A of $250 million and delayed draw term loan of $745 million, all five-year facilities
- Delayed draw term loan funds an asset and equity acquisition from Prospect Medical Holdings, Inc. under an agreement dated November 8, 2024
- Interest rate spreads of 1.25% to 2.50% over term SOFR, set quarterly by leverage ratio; covenants require maximum net leverage of 5.00 to 1.00, stepping down to 4.50 to 1.00 after March 31, 2027, and minimum interest coverage of 2.50 to 1.
- Separate 2025 Annual Meeting of Stockholders set for June 11, 2025, held virtually, with a record date of April 22, 2025
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 7:03 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 27, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.