SelectQuote secures $415 million credit facility

SelectQuote Insurance Services has closed a new $415 million credit facility, refinancing its existing term debt and extending its maturity profile to 2031. The package includes a $325 million term loan from Pathlight Capital and a $90 million revolving credit facility with UMB Bank, replacing prior obligations that were set to mature in 2026 and 2027.

The transaction increases SelectQuote’s liquidity and operating flexibility, particularly during peak Medicare enrollment periods, while modestly improving its cost of capital. The revolver expands seasonal borrowing capacity to $90 million, up from $72 million, and the term loan features lower amortization and potential interest rate step-downs of up to 100 basis points. The company pointed to roughly $1 billion in commissions receivable and growing cash generation from its SelectRx pharmacy and healthcare services business as key underpinnings of the refinancing.

The deal further stabilizes SelectQuote’s balance sheet as it continues to invest across its senior Medicare brokerage, pharmacy, and healthcare services operations. Jefferies served as exclusive financial advisor on the transaction.