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Get filing alertsUHS secures $900M in new credit facilities to fund Talkspace acquisition
Filed April 24, 2026 · Period ending April 22, 2026 · ~1 min read
Key Changes
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UHS obtained $900 million in new credit facilities: a $200M revolving loan, up to $300M term loan, and up to $400M delayed draw term loan, all maturing September 2029. The delayed draw facility will fund the previously announced Talkspace acquisition.
Item 1.01: Credit Agreement Amendment verify on EDGAR → -
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The up to $400 million delayed draw term loan is specifically earmarked to complete the Talkspace acquisition, confirming UHS is moving forward with the deal and has secured necessary financing.
Item 1.01: Use of Proceeds verify on EDGAR → -
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New facilities carry leverage-based pricing with initial margins of 0.25% for ABR loans and 1.25% for benchmark loans. Amendment removes 0.10% credit spread adjustment, potentially reducing borrowing costs.
Item 1.01: Pricing Terms verify on EDGAR → -
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The up to $300M term loan requires lower quarterly payments (0.625% of principal) for first two years, then 1.25% quarterly thereafter, providing near-term cash flow flexibility before balloon payment at maturity.
Item 1.01: Repayment Schedule verify on EDGAR → -
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UHS added subsidiary guarantors to existing note indentures covering over $2 billion in outstanding senior secured notes, strengthening security for existing bondholders.
Item 9.01: Supplemental Indentures verify on EDGAR →
Summary
Universal Health Services has secured $900 million in new credit facilities through an amendment to its existing senior secured credit agreement.
The financing package includes three components: a $200 million revolving facility for general corporate purposes, a $300 million term loan, and a $400 million delayed draw term loan specifically designated to fund the company's previously announced acquisition of Talkspace, Inc. All facilities mature in September 2029.
For retail investors, this filing confirms UHS is proceeding with the Talkspace acquisition and has the capital structure in place to complete it. The leverage-based pricing and structured repayment schedule suggest management is balancing growth ambitions with financial flexibility. The term loan's lighter payment schedule in the first two years provides breathing room as the company integrates Talkspace. Watch for the actual closing of the Talkspace acquisition in coming weeks or months, which will trigger the drawdown of the up to $400 million facility. Also monitor UHS's leverage ratio in subsequent quarterly reports, as this metric now directly affects borrowing costs across the amended credit facilities.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Supplemental Indentures added certain additional Subsidiary Guarantors as guarantors under the Indentures as required under the terms of the Indentures
UHS added new subsidiary guarantors to its existing note indentures governing approximately $2+ billion in outstanding senior secured notes. This strengthens the security position for existing noteholders by expanding the pool of guarantor entities.
Event · Item 2.03 — Creation of a Direct Financial Obligation
UHS created a direct financial obligation under a Senior Secured Credit Facility.
Added in current filing · verify on EDGAR →
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in response to Item 1.01 under the heading “Senior Secured Credit Facility” is incorporated by reference into this Item 2.03.
UHS disclosed the creation of a direct financial obligation through a Senior Secured Credit Facility. The 8-K references Item 1.01 for details, but that section is not included in the provided filing excerpt, preventing assessment of the facility's terms, size, or purpose.
Event · Item 9.01 — Financial Statements and Exhibits
UHS executed supplemental indentures for multiple debt series and amended its senior secured credit facility on April 22, 2026.
Added in current filing · verify on EDGAR →
Fourth Supplemental Indenture, dated as of April 22, 2026, among the Company, the Subsidiary Guarantors party thereto, and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee, to the indenture, dated as of September 21, 2020, governing the 2030 Notes.
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Third Supplemental Indenture, dated as of April 22, 2026, among the Company, the Subsidiary Guarantors party thereto, and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee, to the indenture, dated as of August 24, 2021, governing the 2026 Notes and the 2032 Notes.
UHS entered into supplemental indentures on April 22, 2026 for its 2030 Notes (originally issued September 2020) and its 2026/2032 Notes (originally issued August 2021). These supplemental indentures involve subsidiary guarantors and the trustee U.S. Bank Trust Company. The specific terms or modifications are not detailed in this 8-K filing.
Added in current filing · verify on EDGAR →
Second Supplemental Indenture, dated as of April 22, 2026, among the Company, the Subsidiary Guarantors party thereto, and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee, to the indenture, dated as of September 26, 2024, governing the 2029 Notes and the 2034 Notes.
UHS executed a second supplemental indenture on April 22, 2026 for its 2029 and 2034 Notes, which were originally issued under an indenture dated September 26, 2024. This involves subsidiary guarantors and the same trustee. The filing does not specify what changes or additions the supplemental indenture makes.
Added in current filing · verify on EDGAR →
Eleventh Amendment and Increased Facility Activation Notice dated as of April 22, 2026, to Credit Agreement, dated as of November 15, 2010 and as amended and restated as of September 21, 2012, August 7, 2014, October 23, 2018, August 21, 2021, September 10, 2021, June 23, 2022 and September 26, 2024, among the Company, JP Morgan Chase Bank, N.A., as administrative agent and other financial institutions or entities from time to time parties thereto, including the amendment and restatement thereof, effective as of April 22, 2026, attached as Exhibit A thereto and referred to herein as the Senior Secured Credit Facility.
UHS amended its senior secured credit facility for the eleventh time on April 22, 2026, with JPMorgan Chase as administrative agent. The amendment includes an "Increased Facility Activation Notice" and an amendment and restatement effective the same date. The original credit agreement dates to November 2010 and has been amended multiple times. Specific terms of the increased facility or other modifications are not disclosed in this 8-K.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify