Loan & DebtMay 4, 2026, 05:21 PM
Phreesia's Receivables Facility Limit Rises to $300M, Extended to 2029
AI Summary
Phreesia's indirect subsidiary, AccessOne Funding, LLC, amended its Receivables Purchase and Administration Agreement, increasing the facility limit from $200 million to $300 million and extending the scheduled termination date from May 4, 2026, to April 30, 2029. Concurrently, Phreesia was added as a joint and several co-guarantor under an Amended and Restated Performance Guaranty. The amendment also updated various terms, including an increase in the concentration limit for certain eligible receivables.
Key Highlights
- Receivables facility limit increased from $200,000,000 to $300,000,000.
- Scheduled termination date extended from May 4, 2026, to April 30, 2029.
- Phreesia added as a joint and several co-guarantor under the Amended and Restated Performance Guaranty.
- Concentration limit for Eligible Receivables with lower Provider Ratings increased from 5.00% to 15.00%.
- Amendment No. 9 to the Receivables Purchase Agreement was effective April 30, 2026.