AMN Healthcare to launch $195 million credit facility Sept. 18

By Sara Rosenberg

New York, Sept. 10 - AMN Healthcare Services Inc. is scheduled to hold a bank meeting for a $195 million credit facility on Sept. 18, according to market sources. Bank of America is the lead bank on the deal.

The facility consists of a $120 million five-year term loan with price talk in the range of Libor plus 300 to 325 basis points and a $75 million pro rata tranche, sources said.

Approximately $145 million in borrowings under the credit facility, combined with approximately $40 million of cash on hand, will be used to help fund the previously announced tender offer to purchase shares of the company's common stock and vested and exercisable employee stock options with exercise prices less than $18 per share. The tender offer is set to expire on Oct. 1.

AMN is a San Diego temporary healthcare staffing company and of travel nurse staffing services to hospitals and healthcare facilities.

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