SelectQuote, Inc. announced the successful completion of a new $415 million credit facility.
The facility includes a $325 million term loan with Pathlight Capital LP and a $90 million revolving credit facility with UMB Bank.
This new credit facility strengthens the company's financial position by extending its term debt maturity to 2031.
SelectQuote's credit facility enhances operational flexibility for future investments and growth.
It demonstrates the confidence of Pathlight Capital and UMB Bank in SelectQuote's stability and cash flow potential.
Extended Maturity
The new term loan facility extended the debt maturity to January 2031, fully repaying existing term debt.
Enhanced Liquidity and Flexibility
The UMB revolving credit facility provides greater access to liquidity, with up to $90 million available during peak seasons.
Improved Cost of Capital
The new credit facility offers slightly improved cost of capital with interest rate step downs and increased operating flexibility.
- The new credit facility enhances operational flexibility for future investments and growth.
- It demonstrates the confidence of Pathlight Capital and UMB Bank in SelectQuote's stability and cash flow potential.
SelectQuote's new financing agreement marks a significant milestone in optimizing its capital structure, positioning the company for continued growth.