AMN Healthcare to launch $185 million credit facility on Wednesday

By Sara Rosenberg

New York, Dec. 7 - AMN Healthcare Services Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $185 million credit facility, according to a market source.

Bank of America and SunTrust are the lead banks on the deal, with Bank of America the left lead.

The facility is comprised of a $75 million three-year revolver and a $110 million four-year term loan, with both tranches talked at Libor plus 400 basis points, the source said.

The term loan has a 2.25% Libor floor and is being offered at an original issue discount of 96, the source added.

Proceeds will be used to refinance the company's existing credit facility.

Commitments from lenders are due mid-next week, and closing is expected to occur before year-end.

AMN is a San Diego-based health care staffing company.

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