Universal Health Services adds $700 million delayed draw term loan under credit facility
On July 20, 2026, Universal Health Services entered a Twelfth Amendment to its credit agreement that adds a new delayed draw term loan of up to $700 million, available to draw through September 30, 2026. The loan matures 364 days after funding and is secured on an equal basis with the company's senior secured notes, so it adds potential debt for shareholders if drawn.
Key points
- Up to $700 million delayed draw tranche A term loan, drawable from July 20, 2026 through September 30, 2026
- Matures 364 days after funding; no amortization; mandatory prepayment on certain new debt or stock issuances
- Initial margin of 0.125% for ABR loans and 1.125% for Term Benchmark and RFR loans, based on net leverage ratio
- Company intends to use any proceeds for general corporate purposes, including refinancing existing debt
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 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 July 21, 2026.
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.