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HealthTronics amends loan, extending revolver and raising pricing
By Sara Rosenberg
New York, Jan. 5 - HealthTronics Inc. amended its credit facility, extending the $60 million revolver to Dec. 31, 2012 from March 23, 2010 and increasing pricing to a range of Libor plus 260 basis points to Libor plus 310 bps, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
Initial pricing on the revolver is Libor plus 285 bps.
In addition, the amendment eliminated the interest coverage ratio and replaced it with a fixed-charge coverage ratio.
Also, the dollar limit on stock repurchases was increased to $20 million from $10 million, subject to maintaining a total leverage ratio of 2.00 to 1.00.
JPMorgan acted as the arranger and administrative agent on the deal that was completed on Dec. 29, with Bank of America the syndication agent.
HealthTronics is an Austin, Texas-based provider of urology services and products.
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