GMR Solutions reprices $2.9 billion term loan, cuts interest rate

GMR Solutions, a medical services provider operating in the United States, has restructured its $2.9 billion Term Loan B facility. The company utilized cash reserves to pay off borrowings, reducing the outstanding principal to approximately $2.7 billion. The interest rate has been decreased from SOFR plus 325 basis points to SOFR plus 275 basis points, a 50 basis point reduction.

This adjustment yields an estimated annual cash interest expense saving of $28 million. GMR also used cash to fulfill payroll tax obligations from equity award settlements. The company operates in over 1,400 counties across the country, employing approximately 34,000 individuals and handling around 5.5 million patient encounters each year.