US Fertility completes Senior Debt Refinancing

Overview

Deal Type Debt Capital Markets
Size $635 Million
Client & Transactional Partners US Fertility
Amulet Capital Partners
Our Role Left Lead Arranger
Joint Bookrunner
Administrative Agent

Summary

KeyBanc Capital Markets and Cain Brothers successfully closed the syndication of $635 million in Senior Secured Credit Facilities in support of US Fertility Enterprises, a portfolio company of Amulet Capital Partners.

The Credit Facilities consist of a $60 million Revolving Credit Facility, a $550 million Term Loan, and a $25 million Delayed Draw Term Loan. Proceeds from the Credit Facilities will be used to refinance existing indebtedness and to pay transaction-related fees and expenses. This transaction represents US Fertility’s inaugural broadly syndicated facility.

KeyBanc Capital Markets and Cain Brothers were selected to serve as Left Lead Arranger and Administrative Agent due to our best-in-class leveraged finance platform, expertise in the women’s health space, and long-standing relationship with Amulet Capital Partners. 

US Fertility is the leading fertility group in the United States offering a broad range of assistive reproductive technology services and ancillary life sciences offerings. Since 2021, the Company has grown from ~85 physicians across 59 locations to the leading IVF platform in the nation with over 200 physicians across 105 treatment locations and 30+ embryology labs.

Amulet is a middle market private equity investment firm based in Greenwich, Connecticut, and Walnut Creek, California, focused exclusively on the healthcare sector. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in healthcare companies. Amulet focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size between $25 million and $200 million.

Cain Brothers

US Fertility completes Senior Debt Refinancing

Ryan Stilphen

Carl McCarden

Alex Clemens

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and by its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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