Concentra Operating to get $675 million credit facility via JPMorgan

By Sara Rosenberg

New York, Sept. 6 - Concentra Operating Corp. is looking to get a new $675 million credit facility (B+) via lead bank JPMorgan, according to a market source.

The facility consists of a $150 million five-year revolving credit facility and a $525 million six-year term loan B, the source said.

Market speculation has the deal launching via a bank meeting on Wednesday, but confirmation of this information was unavailable prior to press time.

Proceeds will be used to refinance existing bank debt, to purchase Beech Street Corp. and to purchase Occupational Health & Rehabilitation Inc.

Concentra is an Addison, Texas, provider of services designed to contain health care and disability costs.

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