Upstream Rehabilitation, Inc.’s Credit Facilities

Cravath represented Credit Suisse as administrative agent and lead arranger in connection with the arrangement of $745 million of credit facilities made available to Upstream Rehabilitation, Inc., a leading provider of outpatient clinics and rehabilitation therapy centers. The facilities consisted of a $50 million first lien revolving credit facility, a $555 million first lien term loan facility and a $140 million second lien term loan facility. The transaction closed on November 20, 2019.

The Cravath team included partners Stephen M. Kessing and Sasha Rosenthal-Larrea and associates Kelly M. Smercina, Nadia T. Odai-Afotey and Vanessa Isler on banking matters, associates Leon B. Dalezman and Rory M. Minnis on tax matters, and associate Anna Mikaelyan on executive compensation and benefits matters. Summer associate Joanna L. Kessler also worked on banking matters.