AMN Healthcare flexes $200 million term loan B to Libor plus 475 bps

By Sara Rosenberg

New York, April 2 - AMN Healthcare Services Inc. reduced pricing on its $200 million six-year term loan B to Libor plus 475 basis points from Libor plus 500 bps and added a step-down to Libor plus 450 bps when leverage is below 3.0 times, according to a market source.

In addition, the original issue discount on the loan was tightened to 99 from 981/2, the source said.

The 1.25% Libor floor was left unchanged as was the 101 soft call protection for one year.

The company's $250 million credit facility (Ba2/BB-) also includes a $50 million five-year revolver.

SunTrust Robinson Humphrey Inc. and GE Capital Markets are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

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

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