KKR’s Envision Gets $1 Billion Cash With Refinancing Deal (1)

Envision Healthcare Corp. struck a deal with creditors to raise over $1 billion in fresh cash to help in weather pandemic uncertainties and federal legislation that could threaten its earnings, according to a statement.

The KKR & Co.-backed medical staffing company’s refinancing includes a $1.1 billion first-lien loan and a $200 million delayed-draw term loan. It’s also getting a new $1.3 billion second-lien loan, the proceeds of which will be used to repurchase around $2 billion of existing debt, the statement said.

The deal comes after the company received competing financing offers from groups of lenders that could ...