AMN to upsize term B by $68 million, get $50 million second-lien loan

By Sara Rosenberg

New York, July 28 - AMN Healthcare Services Inc. plans to increase its term loan B by $68 million and obtain a new $50 million second-lien term loan to help fund its acquisition of Nursefinders Inc., according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

In addition, the company also expects to amend and extend its existing $107 million term loan B and revolver.

Under the terms of the agreement, AMN will acquire all of the outstanding equity of Nursefinders' parent company for roughly 6.3 million shares of AMN common stock and about 5.7 million shares of AMN series A conditional convertible preferred stock.

Proceeds from the incremental loans will be used to refinance Nursefinders' $132 million of bank debt.

The transaction is expected to close in the third quarter, subject to customary conditions, regulatory approvals and receipt of debt financing.

AMN is a San Diego-based health care staffing and workforce services company. Nursefinders is an Arlington, Texas-based provider of clinical workforce managed services programs.

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