Universal Health Services, Inc. (UHS) entered into a new amendment to its long-running senior secured credit agreement, adding up to $700 million of short-term delayed-draw term loan capacity. On July 20, 2026, the company signed a Twelfth Amendment and Increased Facility Activation Notice to its credit agreement originally dated November 15, 2010. The agreement is among Universal Health Services, the banks and other financial institutions that are parties to the facility, and JPMorgan Chase Bank, N.A., serving as administrative agent. The filing reports the matter under Item 1.01, “Entry into a Material Definitive Agreement,” and Item 2.03, “Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.” The amendment adds a new incremental delayed draw tranche A term loan facility of up to $700 million, referred to as the July 2026 Delayed Draw Term Loan. UHS may draw on the facility during the period from July 20, 2026, through September 30, 2026. If drawn, the loan will mature 364 days after the funding date. The facility does not amortize, meaning there are no scheduled principal repayments before maturity; any outstanding amount will be due in full on the maturity date. The company said that if it draws on the new term loan, it intends to use the proceeds for general corporate purposes, including refinancing existing indebtedness and paying related fees and expenses. The amendment also requires UHS to prepay the delayed draw term loan before maturity if the company or its subsidiaries incur certain borrowed-money indebtedness or issue capital stock, subject to limited exceptions in the credit agreement. Pricing on the new facility will be tied to UHS’s Consolidated Net Leverage Ratio. The initial applicable margin is 0.125% for ABR loans and 1.125% for Term Benchmark Loans and RFR Loans, as those terms are defined in the credit agreement. The obligations under the senior secured credit facility are secured by collateral shared on an equal and ratable basis with holders of several existing UHS senior secured notes: the company’s 1.650% Senior Secured Notes due 2026, 4.625% Senior Secured Notes due 2029, 2.650% Senior Secured Notes due 2030, 2.650% Senior Secured Notes due 2032, and 5.050% Senior Secured Notes due 2034. The collateral arrangements are governed by UHS’s Amended and Restated Collateral Agreement, as amended and supplemented. The filing was signed on July 21, 2026, by Steve Filton, Universal Health Services’ Executive Vice President and Chief Financial Officer.