Vanguard Health seeks to reprice term loan at Libor plus 225 bps

By Sara Rosenberg

New York, Aug. 11 - Vanguard Health Systems Inc. is looking to amend its senior secured credit facility to lower the interest rate on its term loan to Libor plus 225 basis points, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The interest rate reduction is expected to be effective on or around Sept. 26.

In addition, the company plans on drawing down the remaining amount under its $175 million delayed-draw term loan prior to the Sept. 23 deadline.

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

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