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Amedisys Signs New $70MM Second Lien Credit Facility

July 30, 2014, 07:33 AM
Filed Under: Healthcare

Amedisys, Inc.  entered into a new $70 million six-year second lien term loan facility. In connection with the new second lien facility, the company's existing senior secured credit facility was amended and downsized to $159 million, consisting of an existing term loan with a balance of $39 million and a $120 million revolving credit facility. The maturity of the senior secured facility will remain unchanged.

Proceeds from the new term loan were used to pay down outstanding revolver balances. The interest rate of the second lien term loan is priced at LIBOR plus 7.5% with a 1.0% LIBOR floor.

Ronald A. LaBorde, president and interim chief executive officer of Amedisys, Inc. stated, "This new six-year facility, in combination with our amended senior facility, will support our capital needs as Amedisys continues to implement both short-term and long-term performance improvement initiatives."

Amedisys, Inc. is a "health care at home" company delivering personalized home health and hospice care to more than 360,000 patients each year. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based recovery and rehabilitation after an operation or injury, care focused on empowering them to manage a chronic disease, palliative care for those with a terminal illness, or hospice care at the end of life.

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