DaVita Inc. Enters Material Definitive Agreement
Ticker: DVA · Form: 8-K · Filed: May 13, 2024 · CIK: 927066
| Field | Detail |
|---|---|
| Company | Davita Inc. (DVA) |
| Form Type | 8-K |
| Filed Date | May 13, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $1,640,250,847.08 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: DVA
TL;DR
DaVita just signed a big financial deal, could be good or bad.
AI Summary
On May 9, 2024, DaVita Inc. entered into a material definitive agreement related to a direct financial obligation. The company, headquartered in Denver, CO, filed this 8-K report to disclose this significant financial event.
Why It Matters
This filing indicates DaVita Inc. has entered into a significant financial agreement, which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or opportunities, carrying inherent risks that require careful evaluation.
Key Players & Entities
- DAVITA INC. (company) — Registrant
- May 9, 2024 (date) — Date of earliest event reported
- Denver, CO (location) — Company Headquarters
FAQ
What type of material definitive agreement did DaVita Inc. enter into?
The filing indicates the entry into a material definitive agreement, but the specific nature of the agreement is not detailed in the provided text.
What is the direct financial obligation or off-balance sheet arrangement mentioned?
The filing states the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but specific details are not provided in the text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 9, 2024.
What is DaVita Inc.'s state of incorporation and IRS Employer Identification Number?
DaVita Inc. is incorporated in Delaware (DE) and its IRS Employer Identification Number is 51-0354549.
What are the business and mailing addresses for DaVita Inc.?
The business and mailing address for DaVita Inc. is 2000 16th Street, Denver, CO 80202.
Filing Stats: 986 words · 4 min read · ~3 pages · Grade level 12.2 · Accepted 2024-05-13 06:16:32
Key Financial Figures
- $0.001 — nge on which registered: Common Stock, $0.001 par value DVA New York Stock Exchange
- $1,640,250,847.08 — 31, in an aggregate principal amount of $1,640,250,847.08 (such extended portion, the "Extended T
Filing Documents
- dva-20240509.htm (8-K) — 32KB
- ex101-fourthamendmentexfor.htm (EX-10.1) — 1699KB
- image_0.jpg (GRAPHIC) — 7KB
- 0000927066-24-000093.txt ( ) — 2131KB
- dva-20240509.xsd (EX-101.SCH) — 2KB
- dva-20240509_lab.xml (EX-101.LAB) — 21KB
- dva-20240509_pre.xml (EX-101.PRE) — 12KB
- dva-20240509_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On May 9, 2024, DaVita Inc. (the "Company") entered into a Fourth Amendment (the "Fourth Amendment") to that certain Credit Agreement dated as of August 12, 2019 (as previously amended, restated, supplemented, or otherwise modified, and as further amended by the Fourth Amendment, the "Credit Agreement"), in each case, by and among the Company, its subsidiary guarantors, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, collateral agent and swingline lender ("Wells Fargo"). The Fourth Amendment, among other things, provides for an extension of the maturity date of a portion of the Company's existing secured term loan B facility (the "Existing Tranche B-1 Term Facility"), from August 2026 to May 2031, in an aggregate principal amount of $1,640,250,847.08 (such extended portion, the "Extended Tranche B-1 Term Facility"). Pursuant to the Fourth Amendment, borrowings under the Extended Tranche B-1 Term Facility shall be in U.S. dollars and shall bear interest, at the Company's option, based on (i) the Base Rate (as defined below) plus the Applicable Margin (as defined below), or (ii) the forward-looking term rate based on the secured overnight financing rate that is published by CME Group Benchmark Administration Limited ("Term SOFR") plus the Applicable Margin. The "Base Rate" with respect to the Extended Tranche B-1 Term Facility is defined as the highest of (i) the Federal Funds Rate, as published by the Federal Reserve Bank of New York, plus 50 basis points, (ii) the prime commercial lending rate of Wells Fargo as established from time to time and (iii) Term SOFR for an interest period of one month plus 100 basis points; provided that if the Base Rate is negative it shall be deemed to be zero. The "Applicable Margin" for the Extended Tranche B-1 Term Facility is 200 basis points in the case of Term SOFR loans, and 100 basis points in the case of Base Rate loans.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Fourth Amendment, dated as of May 9, 2024, to that certain Credit Agreement, dated as of August 12, 2019, by and among DaVita Inc., certain subsidiary guarantors party thereto, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, collateral agent and swingline lender. 104.0 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DAVITA INC. Date: May 13, 2024 By: /s/ Joel Ackerman Joel Ackerman Chief Financial Officer and Treasurer