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SRH, BofA Merrill Lynch, JPMorgan Chase Arrange $400MM Revolver for AMN Healthcare Services

February 12, 2018, 07:32 AM
Filed Under: Healthcare

AMN Healthcare Services, Inc., an innovator in healthcare workforce solutions and staffing services, announced that it has entered into a new $400 million revolving credit facility. The agreement also includes the ability to expand borrowing by $250 million plus additional amounts based on a net leverage ratio test, subject to certain terms and conditions. This new five-year agreement replaces the previous $275 million credit facility.

Compared with the previous credit agreement, pricing was reduced by at least 25 basis points at all leverage levels. Other terms of the agreement are consistent with or improved from the one it replaced. The company currently has no borrowings outstanding on its revolving credit facility.

"With this new credit facility, AMN has obtained greater borrowing capacity at lower interest rates, with extended maturity and improved flexibility under covenants. This larger facility reflects the strength of the company and is important in supporting AMN's long-term growth strategy," said Brian M. Scott, Chief Financial Officer of AMN Healthcare.

SunTrust Robinson Humphrey, Inc., Bank of America Merrill Lynch, and JPMorgan Chase Bank, N.A. acted as joint lead arrangers and joint bookrunners on the financing.

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