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Iasis Seeks $1.24B Credit Facility

A unit of Iasis Healthcare, an owner and operator of community hospitals in the U.S., is seeking $1.235 billion in new senior secured loans to refinance existing debt.

A unit of Iasis Healthcare, an owner and operator of community hospitals in the U.S., is seeking $1.235 billion in new senior secured loans to refinance existing debt. The loan will include a $935 million senior secured term loan and a $300 million senior secured super priority revolving line of credit.

Iasis also intends to sell up to $935 million in senior unsecured notes due 2019, The company intends to use the net proceeds to repurchase its outstanding 8.75% senior subordinated notes, repay paid-in-kind loans for its parent company, fund acquisitions as well as a potential distribution to equity holders.

Click here for the release from Business Wire.

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