04:58 AM EDT, 09/19/2024 (MT Newswires) -- Ardent Health Partners ( ARDT ) said late Wednesday it has agreed to a repricing of its credit agreement with lenders.

The repricing reduces the applicable interest rate by 50 basis points to term secured overnight financing rate plus 2.75%, from a previous plus 3.25%. The repricing also eliminates the credit spread adjustment.

The company said its new agreement is expected to reduce borrowing costs and generate annual savings of about $5 million.

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