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American HomePatient gets $216.2 million four-year credit facility
By Sara Rosenberg
New York, Sept. 2 - American HomePatient Inc. closed on a new $216.2 million four-year credit facility on Thursday, according to an 8-K filed with the Securities and Exchange Commission.
GE Capital acted as the lead bank on the deal.
The facility consists of a $95.5 million first-lien term loan priced at Libor plus 400 basis points with a 2.8% Libor floor and a $120.7 million second-lien term loan priced at Libor plus 700 bps.
Covenants include a minimum interest coverage ratio and a maximum leverage ratio.
Proceeds were used to fund refinance existing debt.
American HomePatient is a Brentwood, Tenn.-based home health care provider.
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