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AI brief of an SEC Form 8-K · U.S. Physical Therapy (USPH)

U.S. Physical Therapy enters $170.6 million forward-starting interest rate swap with Bank of America

Neutral Impact 3 of 5 financing Written later

U.S. Physical Therapy entered a 45-month forward-starting interest rate swap with Bank of America on September 22, 2026, with an initial notional amount of $170.6 million. The swap fixes the variable interest rate on the term debt under its April 14, 2026 credit agreement, starting June 30, 2027, when its existing swap expires. The filing describes this as a hedge on borrowing costs, with no earnings figures disclosed.

Key points

  • Swap notional amount: $170.6 million, reflecting term loan amortization as of the effective date
  • Company pays a fixed rate of 4.578% per annum and receives one-month SOFR; swap effective June 30, 2027
  • Swap terminates April 14, 2031; Bank of America is counterparty and Administrative Agent under the credit agreement

The filing

CompanyU.S. Physical Therapy (USPH)
Form8-K, current report
Filed with the SECSep 28, 2026, 5:08 PM ET
Accession number0000885978-26-000060

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:58 AM ET, from this filing 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 September 28, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.