CIVITAS SOLUTIONS, INC. (NYSE:CIVI) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry into a Material Definitive Agreement.
On May25, 2017, National Mentor Holdings, Inc. (NMHI) and NMH
Holdings, LLC (NMHH), wholly-owned subsidiaries of Civitas
Solutions, Inc. (the Company), and certain subsidiaries of NMHI,
as guarantors (the Guarantors), entered into Amendment No.5 (the
Repricing Amendment) to the Credit Agreement, dated as of
January31, 2014 (as amended from time to time, the Senior Credit
Agreement), by and among NMHI, NMHH, the Guarantors and Barclays
Bank PLC, as administrative agent.
The Repricing Amendment decreased the applicable interest margin
for the Tranche B Term Loans under the Senior Credit Agreement by
25 basis points for both ABR borrowings and Eurodollar
borrowings, and reduced the Eurodollar floor by 25 basis points.
As a result, the applicable margin for Tranche B Term Loans
designated as ABR borrowings will be 2.00% and the applicable
margin for Tranche B Term Loans designated as Eurodollar
borrowings will be 3.00% (subject to a 0.75% Eurodollar floor).
The interest rate for the revolving credit facility under the
Senior Credit Agreement remains unchanged. The Repricing
Amendment also reset the period during which a 1.0% prepayment
premium may be required for a Repricing Transaction (as defined
in the Senior Credit Agreement) until one year after the
effective date of the Repricing Amendment.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit No. |
Description of Exhibit |
|
| 10.1 |
Amendment No. 5 to the to the Credit Agreement, dated as of May 25, 2017, among NMH Holdings, LLC, as parent guarantor, National Mentor Holdings, Inc. as borrower, certain subsidiaries of National Mentor Holdings, Inc. party thereto, as guarantors, the lenders party thereto and Barclays Bank PLC, as administrative agent. |
About CIVITAS SOLUTIONS, INC. (NYSE:CIVI)
Civitas Solutions, Inc. is a provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS). The Human Services segment provides home- and community-based human services to individuals with intellectual and/or developmental disabilities (I/DD), youth with emotional, behavioral and/or medically complex challenges or at-risk youth (ARY), and elders. The SRS segment delivers healthcare and community-based health and human services to individuals having suffered acquired brain injury, spinal injuries, and other catastrophic injuries and illnesses. Within its SRS segment, its NeuroRestorative business unit is focused on rehabilitation and transitional living services, and its CareMeridian business unit is focused on the medically-intensive post-acute care services. CIVITAS SOLUTIONS, INC. (NYSE:CIVI) Recent Trading Information
CIVITAS SOLUTIONS, INC. (NYSE:CIVI) closed its last trading session 00.00 at 16.05 with 24,469 shares trading hands.
