Vanguard draws remaining $90 million under delayed-draw term loan

By Sara Rosenberg

New York, Feb. 22 - Vanguard Health Systems Inc. drew down the remaining $90 million under its $150 million delayed-draw term loan facility on Feb. 18, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

The borrowings will be used to fund the working capital build-up for three hospitals in Massachusetts which Vanguard acquired from affiliates of Tenet Healthcare Corp., to make capital expenditures at these hospitals and for other general corporate purposes.

Vanguard is a Nashville, Tenn., owner and operator of acute care hospitals and related health care services.

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