Kindred Healthcare amends revolver, lifting size to $600 million

By Sara Rosenberg

New York, Dec. 13 - Kindred Healthcare Inc. amended and restated its revolving credit facility, increasing the size to $600 million from $500 million, according to an 8-K filed with the Securities and Exchange Commission on Monday.

As part of the amendment, pricing on the revolver was increased by 50 basis points. Initial pricing is set at Libor plus 250 bps, but the spread can range from Libor plus 175 bps to 250 bps based on average excess daily availability.

The initial commitment fee is 37.5 bps. The fee can drop to 25 bps also based on availability.

"The $100 million of additional credit capacity will allow us to continue to expand our continuum of post-acute care services in our key cluster markets and pursue other strategic development and acquisition opportunities," said Paul J. Diaz, president and chief executive officer, in a company news release.

Kindred Healthcare is a Louisville, Ky.-based health care services company.

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