RadNet to launch $445 million credit facility on July 12

By Sara Rosenberg

New York, July 5 - RadNet Inc. is scheduled to hold a bank meeting on July 12 to launch its proposed $445 million senior secured credit facility, according to a market source.

General Electric Capital Corp. is the lead bank on the deal.

The facility consists of a $45 million revolver and a $400 million term loan, the source said.

Proceeds will be used to refinance substantially all of the company's existing debt and will provide liquidity and working capital for future expansion.

The deal is expected to close in August.

RadNet is a Los Angeles-based provider of diagnostic imaging services through a network of fully owned and operated outpatient imaging centers.

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