DVA · 8-K · 20260804PR000105
Debt and Liquidity Position
DAVITA INC. · 2026-08-04 · Importance 69 · Surprise 50 · In source text
DaVita incurred a $500 million Term Loan B-2 tranche in June 2026 under the Ninth Amendment to its senior secured credit agreement. A portion of the proceeds repaid revolving-credit borrowings, accrued interest and fees, while the remaining proceeds increased cash for general corporate purposes. Total debt was $10.848 billion at June 30, 2026, up from $10.694 billion at March 31, 2026, and net debt was $10.179 billion. Cash and cash equivalents were $669 million, and the leverage ratio increased to 3.37x from 3.34x while remaining below the 5.00x maximum permitted under the credit agreement.
Key facts
- Entered an incremental Term Loan B-2 tranche in the aggregate principal amount of $500 million in June 2026. source
- Used a portion of the proceeds from the $500 million Term Loan B-2 to repay a portion of the balance outstanding on the Company's revolving line of credit. source
- Net debt, net of cash and cash equivalents, was $10,179 million at June 30, 2026 (net debt, net of cash and cash equivalents). source
- Net cash used in financing activities was $483,528 thousand ($483.528 million) for the six months ended June 30, 2026. source
- As of June 30, 2026 cash and cash equivalents were $668,963 thousand and restricted cash and equivalents were $82,895 thousand. source
- Leverage ratio at June 30, 2026 was 3.37x (compared to 3.34x at March 31, 2026). source
- Proceeds from sales of additional noncontrolling interests in the six months ended June 30, 2026 were $0 (zero) and prior period had $169 thousand. source
- Weighted average effective interest rate at end of the quarter was 5.43% (5.76% on the senior secured credit facilities at end of the quarter). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | — | Entered an incremental Term Loan B-2 tranche in the aggregate principal amount of $500 million in June 2026. |
| liability | positive | realized | — | Used a portion of the proceeds from the $500 million Term Loan B-2 to repay a portion of the balance outstanding on the Company's… |
| liability | negative | realized | — | Net debt, net of cash and cash equivalents, was $10,179 million at June 30, 2026 (net debt, net of cash and cash equivalents). |
| cash | negative | realized | — | Net cash used in financing activities was $483,528 thousand ($483.528 million) for the six months ended June 30, 2026. |
| cash | positive | realized | — | As of June 30, 2026 cash and cash equivalents were $668,963 thousand and restricted cash and equivalents were $82,895 thousand. |