AMN Healthcare increases revolver, adds new term loan facility

By Tali Rackner

Norfolk, Va., Jan. 4 – AMN Healthcare Services, Inc. amended its credit agreement with agent SunTrust Bank on Monday to increase commitments, according to an 8-K filing with the Securities and Exchange Commission.

The amendment raises the secured revolving credit facility to $275 million from $225 million and provides for an additional $75 million secured term loan credit facility.

The up to $125 million accordion feature remains.

The additional term loan is subject to amortization of 5% per annum of the original term loan amount, payable in equal quarterly installments.

Proceeds from the additional term loan, together with a drawdown of a portion of the revolver, was used by to complete AMN’s acquisition of all the issued and outstanding capital stock of Josem Holding, Inc.

The revolver and the original term loan mature on April 18, 2019. The additional term loan matures Jan. 4, 2021.

AMN Healthcare is a San Diego-based provider of health care workforce solutions and staffing services. Josem is a Lenexa, Kan.-based health care company.

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