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entered into a 45-month forward-starting interest rate swap with Bank of America, National Association on September 22, 2026, to fix the variable interest on its term debt at a rate of 4.578% per annum.
The agreement, which carries an initial notional amount of $170.6 million, is designed to manage the company's exposure to fluctuating borrowing costs on its existing credit facilities.
The swap becomes effective on June 30, 2027, a date that coincides with the expiration of the company's current interest rate swap agreement. By locking in the fixed rate now, U.S.
Physical Therapy aims to stabilize its financial obligations under the Fourth Amended and Restated Credit Agreement dated April 14, 2026.
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